Guideline Value for Sriranga Nagar

Sriranga Nagar guideline value

The current guideline value of Sriranga Nagar, located in Mudichur village under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sriranga Nagar has changed

The guideline value for Sriranga Nagar has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft by 2012, marking a rise of 700%. However, from 2012 to 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then rose sharply again to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024, reflecting a 10% increase.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 780%. The register has no figure for Sriranga Nagar for the years 2002 and 2003.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with the median being Rs 2,200 per sq.ft. The guideline value for Sriranga Nagar matches this median.

• Sri Ranganayaki Nagar: Rs 2,200 per sq.ft (2024)
• Srisai Nagar: Rs 1,760 per sq.ft (2024)
• Sri Varadaraja Perumal Nagar: Rs 1,210 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,630 per sq.ft (2024)
• Sri Ishwaryam Garden: Rs 1,760 per sq.ft (2024)
• Sri Durga Avenue: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Sriranga Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sriranga Nagar?

The Sub Registrar Office that covers Sriranga Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mudichur

The guideline value is an essential factor during property transactions in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and consistency in property dealings.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that all parties are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Sriranga Nagar?

The current guideline value of Sriranga Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, with various increases and decreases in between.

What are the stamp duty rates for property in Sriranga Nagar?

The stamp duty for property in Sriranga Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sriranga Nagar?

The Sub Registrar Office for Sriranga Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What is the land classification of Sriranga Nagar?

Sriranga Nagar is classified as Residential Special Type - I, indicating its intended use for residential purposes.