Guideline Value for S.R.B.NAGAR 2nd STREET

S.R.B.NAGAR 2nd STREET guideline value

The current guideline value of S.R.B.NAGAR 2nd STREET is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - III.

How the guideline value of S.R.B.NAGAR 2nd STREET has changed

Over the years, the guideline value of S.R.B.NAGAR 2nd STREET has seen significant changes. The earliest recorded figure is from the 2007 revision, which was Rs 600 per sq.ft. This increased to Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, showing no change during that period. However, a notable increase occurred in the 2024 revision, where the value rose to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2007 to 2012, the guideline value experienced a remarkable increase of 400%. The overall change from 2007 to 2024 is a substantial 450%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value of these streets is Rs 2,500 per sq.ft, placing S.R.B.NAGAR 2nd STREET's 2024 figure above that median.

• S.R.B.NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 3rd STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 12th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 4th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 11th STREET: Rs 3,300 per sq.ft (2024)
• S.R.B.NAGAR 5th STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.B.NAGAR 2nd STREET

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, totaling 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.R.B.NAGAR 2nd STREET?

The S.R.B.NAGAR 2nd STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Korattur. It is used to determine the stamp duty and registration fees when a property is bought or sold. Buyers should be aware that the guideline value is the benchmark for calculating these fees, ensuring transparency in the registration process.

When selling a property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to understand how the guideline value influences the costs associated with property registration in Korattur.

Frequently asked questions

What is the current guideline value of S.R.B.NAGAR 2nd STREET?

The current guideline value of S.R.B.NAGAR 2nd STREET 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 increased from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing a 450% increase overall.

What are the guideline values of other streets in Korattur?

Other streets in Korattur, such as S.R.B.NAGAR 1st STREET, 3rd STREET, 4th STREET, 5th STREET, 11th STREET, and 12th STREET, all have a guideline value of Rs 3,300 per sq.ft for 2024.

Where is the Villivakkam Sub Registrar Office located?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in S.R.B.NAGAR 2nd STREET?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.