Guideline Value for Srisai Nagar

Srisai Nagar guideline value

The current guideline value of Srisai Nagar, located in Mudichur village under the Padappai Sub Registrar Office (SRO), is Rs 1,760 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srisai Nagar has changed

The guideline value for Srisai Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 150 per sq.ft. This increased dramatically to Rs 1,600 per sq.ft in 2012, marking a rise of 967%. However, in the 2017 revision, the value dropped to Rs 1,072 per sq.ft, a decrease of 33%. Following this, the 2023 revision set the value at Rs 1,600 per sq.ft, which then rose to Rs 1,760 per sq.ft in the 2024 revision, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1,073%.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Srisai Nagar is below this median.

• Sri Ranganayaki Nagar: Rs 2,200 per sq.ft (2024)
• Sriranga Nagar: Rs 2,200 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)
• Sundaradas Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Srisai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srisai Nagar?

The Sub Registrar Office that covers Srisai 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Mudichur, as it determines the minimum price at which a property can be registered. This value is used to calculate the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Srisai Nagar?

The current guideline value of Srisai Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 150 per sq.ft in 2007 to Rs 1,760 per sq.ft in 2024, reflecting an overall increase of 1,073%.

What is the land classification for Srisai Nagar?

The land classification for Srisai Nagar is Residential Class I Type - I.

Where is the Padappai Sub Registrar Office located?

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

How is stamp duty calculated for properties in Srisai Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 17,60,000 would incur a stamp duty of Rs 1,23,200 at 7%.