Guideline Value for SRINIVASAN IYENGAR 2 ND STREET

Srinivasan Iyengar 2 Nd Street guideline value

The current guideline value of Srinivasan Iyengar 2 Nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, and it falls under the Residential Class III Type - III land classification.

How the guideline value of Srinivasan Iyengar 2 Nd Street has changed

The guideline value for Srinivasan Iyengar 2 Nd Street has undergone several revisions over the years. Starting from the 2007 revision, the value was Rs 1,000 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, representing a 33% drop. The value then saw a substantial increase to Rs 4,000 per sq.ft in 2023, followed by a further increase to Rs 4,400 per sq.ft in 2024, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. The overall change from 2007 to 2024 shows an increase of 340%, highlighting the significant growth in the guideline value over the years.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Srinivasan Iyengar 2 Nd Street is below this median.

• Srinivasan Iyengar 1st Street: Rs 4,400 per sq.ft (2024)
• Srinivasan Iyengar Street: Rs 6,600 per sq.ft (2024)
• Srinivasan Street: Rs 7,700 per sq.ft (2024)
• Srirampet: Rs 7,700 per sq.ft (2024)
• Station Road: Rs 12,100 per sq.ft (2024)
• Station View Road: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Iyengar 2 Nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Srinivasan Iyengar 2 Nd Street?

The Sub Registrar Office that covers Srinivasan Iyengar 2 Nd 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 Mambalam

The guideline value is a crucial factor when registering property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Srinivasan Iyengar 2 Nd Street?

The current guideline value of Srinivasan Iyengar 2 Nd Street is Rs 4,400 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 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What are the registration fees based on the guideline value?

The registration fees are based on the guideline value, which includes a stamp duty of 7% and a registration fee of 2%. For a property valued at Rs 44,00,000, the total fees would be Rs 3,96,000.

Which Sub Registrar Office handles properties in Mambalam?

The Thiyagaraya nagar Sub Registrar Office handles properties in Mambalam, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the significance of the guideline value?

The guideline value is significant as it determines the minimum price at which properties can be registered, ensuring that the government collects the appropriate stamp duty and registration fees during property transactions.