Guideline Value for Srirangam Nagar

Srirangam Nagar guideline value

The current guideline value of Srirangam Nagar, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Srirangam Nagar has changed

The guideline value for Srirangam Nagar has undergone several revisions over the years. Starting from Rs 78 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a significant rise of 669%. The value remained unchanged at Rs 3,000 per sq.ft from 2012 until 2023, before increasing to Rs 3,300 per sq.ft in the 2024 revision, reflecting a 10% increase.

Notably, there were no figures available for the years 2017 and 2002 in the register for this street. Overall, from 2003 to 2024, the guideline value has increased by 4131%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which matches the current figure for Srirangam Nagar.

• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)
• Sri Sakthi Nagar: Rs 2,750 per sq.ft (2024)
• Sri Saradha Nagar: Rs 3,300 per sq.ft (2024)
• Sri Sastha Nagar: Rs 2,750 per sq.ft (2024)
• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Srinivasapuram: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srirangam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srirangam Nagar?

The Srirangam Nagar area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established values for different areas.

Frequently asked questions

What is the current guideline value of Srirangam Nagar?

The current guideline value of Srirangam Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, starting from Rs 78 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 4131% over this period.

What is the land classification for Srirangam Nagar?

Srirangam Nagar is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for Srirangam Nagar?

The registration office for Srirangam Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Srirangam Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property valued at Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.