Guideline Value for SRINIVASA NAGAR 2nd STREET

SRINIVASA NAGAR 2nd STREET guideline value

The current guideline value of SRINIVASA NAGAR 2nd STREET is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village and falls under the jurisdiction of the Villivakkam SRO. The land classification for this area is Residential Class IV Type - II.

How the guideline value of SRINIVASA NAGAR 2nd STREET has changed

The guideline value for SRINIVASA NAGAR 2nd STREET has seen several revisions over the years. In 2007, the value was Rs 850 per sq.ft, which increased significantly to Rs 3,100 per sq.ft in 2012. However, it then decreased to Rs 2,077 per sq.ft in 2017. Following this, the value rose sharply to Rs 3,100 per sq.ft in 2023, and further increased to the current rate of Rs 3,400 per sq.ft in 2024. Notably, there are no figures available for the years 2002 and 2003 for this street.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a substantial increase of 265%. The value then decreased by 33% from 2012 to 2017. After 2017, the value increased by 49% to reach Rs 3,100 per sq.ft in 2023, followed by a 10% increase to the current Rs 3,400 per sq.ft in 2024. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, making the current value of SRINIVASA NAGAR 2nd STREET below this median.

• SRINIVASA NAGAR 1st STREET: Rs 3,400 per sq.ft (2024)
• Sri Krishna Nagar: Rs 6,600 per sq.ft (2024)
• Sri Krishna Appartments (Officers Colony): Rs 6,600 per sq.ft (2024)
• Sri Balaji Nagar (S.No.226): Rs 5,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 3rd Street': Rs 4,400 per sq.ft (2024)
• South Mada Street 'moorthysamy Colony 2nd Street': Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in SRINIVASA NAGAR 2nd STREET

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. Together, the total cost for stamp duty and registration would be 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.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers SRINIVASA NAGAR 2nd STREET?

The Sub Registrar Office that covers SRINIVASA NAGAR 2nd STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Padi. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller should be aware of the guideline value, as it can influence the sale price and the associated costs. It is essential to consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of SRINIVASA NAGAR 2nd STREET?

The current guideline value of SRINIVASA NAGAR 2nd STREET 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 850 per sq.ft in 2007 to Rs 3,400 per sq.ft in 2024, reflecting an overall increase of 300% over this period.

What are the other guideline values in Padi?

In Padi, the guideline values range from Rs 2,200 to Rs 13,200 per sq.ft in 2024, with a median value of Rs 3,800 per sq.ft.

What is the stamp duty for property in SRINIVASA NAGAR 2nd STREET?

The stamp duty for property in SRINIVASA NAGAR 2nd STREET is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for SRINIVASA NAGAR 2nd STREET located?

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