Guideline Value for SRINIVASA NAGAR EXTENSION - II

Srinivasa Nagar Extension - II guideline value

The current guideline value of Srinivasa Nagar Extension - II is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Pammathukulam village and falls under the Redhills SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Srinivasa Nagar Extension - II has changed

The guideline value for Srinivasa Nagar Extension - II has undergone several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 500 per sq.ft. This was followed by a decrease to Rs 335 per sq.ft in 2017, marking a decline of 33%. However, the value increased significantly to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Between 2017 and 2023, the value saw a substantial rise of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with the median value being Rs 550 per sq.ft. The guideline value for Srinivasa Nagar Extension - II matches this median.

• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Sri Pachayamman Nagar: Rs 550 per sq.ft (2024)
• Sri Pathmavathi Nagar: Rs 660 per sq.ft (2024)
• Sri Pathmavathi Nagar (S.No.603/1): Rs 660 per sq.ft (2024)
• Sri Ponniamman Nagar: Rs 820 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Extension - II

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 5,50,000. The stamp duty at 7% amounts to Rs 38,500, and the registration fee at 2% is Rs 11,000, bringing the total to Rs 49,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar Extension - II?

The Sub Registrar Office that covers Srinivasa Nagar Extension - II is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pammathukulam. It serves as a reference for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two figures is used to determine the applicable stamp duty, which is essential for the legal registration of the property.

Frequently asked questions

What is the current guideline value for Srinivasa Nagar Extension - II?

The current guideline value for Srinivasa Nagar Extension - II is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees amount to Rs 49,500.

Which Sub Registrar Office handles the registration for this street?

The Redhills Sub Registrar Office handles the registration for Srinivasa Nagar Extension - II, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Srinivasa Nagar Extension - II?

The land classification for Srinivasa Nagar Extension - II is Residential Class II Type - I.