Guideline Value for Srnivasa Nagar

Srnivasa Nagar guideline value

The current guideline value of Srnivasa Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is located in Satthankadu village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - III.

How the guideline value of Srnivasa Nagar has changed

The guideline value for Srnivasa Nagar has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft. This figure increased significantly to Rs 3,100 per sq.ft in 2012, marking a rise of 417%. However, the value dropped to Rs 2,077 per sq.ft in 2017, which was a decrease of 33%. The subsequent revision in 2023 raised the value to Rs 3,100 per sq.ft, and the latest revision in 2024 has further increased it to Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the guideline value register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 467%.

Guideline values in Satthankadu

In Satthankadu, there are 71 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,400 per sq.ft, which is equal to the current value of Srnivasa Nagar.

• Thilagar Nagar: Rs 3,400 per sq.ft (2024)
• South Pragaram Street: Rs 3,400 per sq.ft (2024)
• South Lane: Rs 3,400 per sq.ft (2024)
• South kinaru street: Rs 3,400 per sq.ft (2024)
• Thirupurasundarai Nagar: Rs 2,800 per sq.ft (2024)
• Thirupurasundarai Nagar(Corner Plots): Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Srnivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total cost for these fees Rs 3,06,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srnivasa Nagar?

The Sub Registrar Office that covers Srnivasa Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Satthankadu, as it determines the minimum value at which a property can be registered. Buyers must consider this value when negotiating the sale price, as the stamp duty and registration fees are calculated based on the higher of the guideline value or the agreed sale price.

When registering a property, it is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Srnivasa Nagar?

The current guideline value of Srnivasa Nagar is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 467% over this period.

What are the stamp duty and registration fees for property in Srnivasa Nagar?

For a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 and the registration fee would be Rs 68,000, totaling Rs 3,06,000.

Which Sub Registrar Office covers Srnivasa Nagar?

The Thiruvottiyur Sub Registrar Office covers Srnivasa Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the land classification of Srnivasa Nagar?

Srnivasa Nagar is classified as Residential Special Type - III, indicating its suitability for residential purposes.