Guideline Value for SRINIVASA NAGAR

Srinivasa Nagar guideline value

The current guideline value of Srinivasa Nagar, located in Kosappur village under the Thiruvottiyur SRO, is Rs 1,002 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Srinivasa Nagar has changed

Looking at the historical revisions, the guideline value for Srinivasa Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 201 per sq.ft. The value then rose sharply to Rs 1,002 per sq.ft in both the 2023 and 2024 revisions, reflecting a remarkable increase of 399% from 2017 to 2023.

The 2024 revision maintains the guideline value at Rs 1,002 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kosappur

In Kosappur, there are 25 streets under the Thiruvottiyur SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,600 per sq.ft, with the median being Rs 1,002 per sq.ft. The guideline value of Srinivasa Nagar aligns perfectly with this median.

• Sri Ramakrishna Nagar: Rs 1,002 per sq.ft (2024)
• Sri Aishwariya Nagar: Rs 1,002 per sq.ft (2024)
• Sowbaghiya Nagar: Rs 1,001 per sq.ft (2024)
• Subam Colony: Rs 1,002 per sq.ft (2024)
• Subam Colony Extn: Rs 1,002 per sq.ft (2024)
• Thangam Colony: Rs 1,002 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 1,002 per sq.ft, the total guideline value amounts to Rs 10,02,000. The stamp duty at 7% would be Rs 70,140, and the registration fee at 2% would be Rs 20,040, resulting in a total cost of Rs 90,180. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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 Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Kosappur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the authorities.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall expenses involved in the transaction. Buyers and sellers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar?

The current guideline value of Srinivasa Nagar is Rs 1,002 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 100 per sq.ft in 2007 to Rs 1,002 per sq.ft in 2024, showing an overall increase of 902% since 2007.

What is the land classification for Srinivasa Nagar?

Srinivasa Nagar is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Srinivasa Nagar?

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,002 per sq.ft would incur a total cost of Rs 90,180 in fees.

Which Sub Registrar Office covers Srinivasa Nagar?

The Thiruvottiyur Sub Registrar Office covers Srinivasa Nagar, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.