Guideline Value for SAKTHI SRINIVASAN 2ND CROSS STREET

Sakthi Srinivasan 2nd Cross Street guideline value

The current guideline value of Sakthi Srinivasan 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village, under the Neelankarai SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sakthi Srinivasan 2nd Cross Street has changed

The guideline value for Sakthi Srinivasan 2nd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,345 per sq.ft. The value remained at Rs 3,500 per sq.ft in 2023, before increasing to Rs 3,900 per sq.ft in the 2024 revision, marking an increase of 11%.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which means that the 2024 guideline value for Sakthi Srinivasan 2nd Cross Street is above this median.

• Sakthi Srinivasan 1st Cross Street: Rs 3,900 per sq.ft (2024)
• Sakthi Srinivasan 3rd Cross Street: Rs 3,900 per sq.ft (2024)
• Sakthi Srinivasan 4th Cross Street: Rs 3,900 per sq.ft (2024)
• Sakthi Srinivasan 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Sakthi Srinivasan 6th Cross Street: Rs 3,900 per sq.ft (2024)
• Sakthi Srinivasan 7th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Srinivasan 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, leading to a total of Rs 3,51,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sakthi Srinivasan 2nd Cross Street?

The Sub Registrar Office that covers Sakthi Srinivasan 2nd Cross Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Okkiyamthuraipakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both parties to agree upon a sale price. It is essential to note that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value for Sakthi Srinivasan 2nd Cross Street?

The current guideline value for Sakthi Srinivasan 2nd Cross Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,900 per sq.ft in 2024, which is an increase of 11%. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What are the stamp duty and registration fees for a property in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for this street?

The Neelankarai Sub Registrar Office handles the registration for Sakthi Srinivasan 2nd Cross Street, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification for Sakthi Srinivasan 2nd Cross Street?

The land classification for Sakthi Srinivasan 2nd Cross Street is Residential Class I Type - II.