Guideline Value for SRINIVASAPURAM 1st MAIN ROAD

SRINIVASAPURAM 1st MAIN ROAD guideline value

The current guideline value of SRINIVASAPURAM 1st MAIN ROAD is Rs 2,900 per sq.ft, effective from 1 July 2024. This road is located in Korattur village and falls under the Villivakkam SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of SRINIVASAPURAM 1st MAIN ROAD has changed

The guideline value for SRINIVASAPURAM 1st MAIN ROAD has undergone several revisions over the years. In 2002, the value was Rs 136 per sq.ft, which increased significantly to Rs 1,015 per sq.ft in 2007, marking a change of +646%. Following this, the value rose to Rs 2,700 per sq.ft in 2012, an increase of +166%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, reflecting a decline of -33%. The most recent revision in 2024 set the value at Rs 2,900 per sq.ft, which represents an increase of +60% from 2017.

It is important to note that the register has no figures for the years 2003 and 2023 for this street. Overall, the guideline value has increased by +2032% from 2002 to 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing SRINIVASAPURAM 1st MAIN ROAD's 2024 figure above this median.

• SRINIVASAPURAM 1st CROSS STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 1st STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd CROSS STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd MAIN ROAD: Rs 2,900 per sq.ft (2024)
• SRINIVASAPURAM 2nd STREET: Rs 2,500 per sq.ft (2024)
• Srinivasapuram 3rd Cross Street: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in SRINIVASAPURAM 1st MAIN ROAD

For a 1,000 sq.ft plot at the current rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. It is essential to note that 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 details.

Which Sub Registrar Office covers SRINIVASAPURAM 1st MAIN ROAD?

The Sub Registrar Office that covers SRINIVASAPURAM 1st MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Korattur. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the fees, ensuring that the transaction is recorded accurately in the official registry. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of SRINIVASAPURAM 1st MAIN ROAD?

The current guideline value of SRINIVASAPURAM 1st MAIN ROAD is Rs 2,900 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 136 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, marking an overall increase of +2032%.

Which Sub Registrar Office covers this area?

The Villivakkam Sub Registrar Office covers SRINIVASAPURAM 1st MAIN ROAD, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 29,00,000, the stamp duty would be Rs 2,03,000 and the registration fee would be Rs 58,000, totaling Rs 2,61,000.

Where can I find more information about guideline values in Korattur?

More information about guideline values in Korattur can be found through the Registration Department's guideline value register (TNReginet) or by exploring the links provided for other streets in Korattur.