Guideline Value for SRINIVASA REDDY STREET

Srinivasa Reddy Street guideline value

The current guideline value of Srinivasa Reddy Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - I.

How the guideline value of Srinivasa Reddy Street has changed

The guideline value for Srinivasa Reddy Street has undergone several revisions over the years. The earliest recorded figure is from 2003, set at Rs 1,400 per sq.ft. This value increased significantly to Rs 3,014 per sq.ft in 2007, marking a 115% rise. In 2012, the value adjusted to Rs 6,000 per sq.ft, which was a 99% increase from the previous revision. However, in 2017, it dropped to Rs 4,020 per sq.ft, reflecting a decrease of 33%. The value then rose again to Rs 6,000 per sq.ft in 2023, and finally to the current rate of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

There is no recorded figure for Srinivasa Reddy Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 371%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft, with a median value of Rs 11,000 per sq.ft. The guideline value for Srinivasa Reddy Street is below this median.

• Srinivasa Road: Rs 13,200 per sq.ft (2024)
• Srinivasa Puram: Rs 5,500 per sq.ft (2024)
• Subbupillai Thottam: Rs 5,500 per sq.ft (2024)
• South West Boag Road: Rs 11,000 per sq.ft (2024)
• South Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• South Boag Road (Southern Side Of Thiagaraya Road): Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Reddy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total cost to Rs 5,94,000. 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 Reddy Street?

The Sub Registrar Office that covers Srinivasa Reddy Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tnagar. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in government records.

When a buyer or seller engages in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures transparency and compliance with legal requirements during the property transfer process.

Frequently asked questions

What is the current guideline value of Srinivasa Reddy Street?

The current guideline value of Srinivasa Reddy Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2003 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 371% over the years.

What are the stamp duty and registration fees for properties in Srinivasa Reddy Street?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Srinivasa Reddy Street?

The Thiyagaraya nagar Sub Registrar Office is responsible for Srinivasa Reddy Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

Where does Srinivasa Reddy Street's guideline value stand compared to other streets in Tnagar?

The guideline value of Srinivasa Reddy Street at Rs 6,600 per sq.ft is below the median value of Rs 11,000 per sq.ft for the 262 streets in Tnagar under the Thiyagaraya nagar SRO.