Guideline Value for SRINIVASA NAGAR

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Hastinapuram village under the Pallavaram SRO, is Rs 2,970 per sq.ft. This value is effective from the 1st of July 2024. The land is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar has changed

The guideline value for Srinivasa Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was followed by a decrease to Rs 1,809 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,700 per sq.ft, reflecting a 49% rise. The most recent 2024 revision has further increased the value to Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,970 per sq.ft, which aligns with the current guideline value for Srinivasa Nagar.

• Srinivasa Nagar 1st Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 2nd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 4th Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 5th Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar Main Road: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400. In total, the fees would come to Rs 2,67,300. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar?

The Sub Registrar Office that covers Srinivasa Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Hastinapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,970 per sq.ft in 2024.

What is the land classification for Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Srinivasa Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 29,70,000 would incur a stamp duty of Rs 2,07,900 at 7%.