Guideline Value for SRINIVASA NAGAR 4TH STREET

Srinivasa Nagar 4th Street guideline value

The current guideline value of Srinivasa Nagar 4th Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village under the Neelankarai SRO, classified as Residential Class IV Type - II.

How the guideline value of Srinivasa Nagar 4th Street has changed

The guideline value for Srinivasa Nagar 4th Street has undergone several revisions over the years. The earliest recorded figure was Rs 177 per sq.ft in 2002. This increased to Rs 198 per sq.ft in 2003, marking a 12% rise. Following this, the value saw a significant jump to Rs 400 per sq.ft in 2007, which was an increase of 102%. In 2012, the value remained at Rs 1,500 per sq.ft, showing no recorded figure for the street during that year.

From 2012, the guideline value changed to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. The value then increased to Rs 1,500 per sq.ft in 2023, followed by the current figure of Rs 1,700 per sq.ft in 2024, which is a 13% increase from the previous year. Overall, from 2002 to 2024, the guideline value has risen by 860%.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the guideline value of Srinivasa Nagar 4th Street below this median.

• Srinivasa Nagar 3rd Street: Rs 1,700 per sq.ft (2024)
• Srinivasa Nagar 2nd Street: Rs 1,700 per sq.ft (2024)
• Srinivasa Nagar 1st Street: Rs 1,700 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,700 per sq.ft (2024)
• St.Thomas Street: Rs 3,300 per sq.ft (2024)
• Subarayan Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000. Together, the total cost for stamp duty and registration would be Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar 4th Street?

The Sub Registrar Office that covers Srinivasa Nagar 4th 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 additional information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded accurately and helps in calculating the applicable stamp duty and registration fees.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This process helps maintain transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 4th Street?

The current guideline value of Srinivasa Nagar 4th Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 177 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, representing an overall increase of 860% over the years.

What is the stamp duty for property in Srinivasa Nagar 4th Street?

The stamp duty for property in Srinivasa Nagar 4th Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasa Nagar 4th Street?

The Sub Registrar Office for Srinivasa Nagar 4th Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What are the other streets in Palavakkam with the same guideline value?

Other streets in Palavakkam with the same guideline value of Rs 1,700 per sq.ft include Srinivasa Nagar 1st Street, Srinivasa Nagar 2nd Street, Srinivasa Nagar 3rd Street, and Srinivasa Nagar.