Guideline Value for SRINIVASAPURAM 1st STREET

SRINIVASAPURAM 1st STREET guideline value

The current guideline value of SRINIVASAPURAM 1st STREET is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Korattur village and falls under the Villivakkam SRO, classified as Residential Class II Type - III.

How the guideline value of SRINIVASAPURAM 1st STREET has changed

The guideline value has seen 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%. The value remained at Rs 2,300 per sq.ft from 2012 until the 2023 revision, showing no change during this period. In 2023, the value was revised to Rs 2,300 per sq.ft, and then increased to Rs 2,500 per sq.ft in 2024, reflecting a change of +9%.

There are no figures available for the revisions in 2003 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by +1738%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, which matches the guideline value of SRINIVASAPURAM 1st STREET.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total fees to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SRINIVASAPURAM 1st STREET?

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

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

The guideline value is a crucial factor in property transactions in Korattur, as it determines the minimum value at which a property can be registered. When you buy or sell property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the transaction. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of SRINIVASAPURAM 1st STREET?

The current guideline value of SRINIVASAPURAM 1st STREET is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 136 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, reflecting an overall increase of +1738% over this period.

What is the land classification for SRINIVASAPURAM 1st STREET?

SRINIVASAPURAM 1st STREET is classified as Residential Class II Type - III.

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

For a property valued at Rs 25,00,000, the stamp duty would be Rs 1,75,000, and the registration fee would be Rs 50,000, totaling Rs 2,25,000.

Which office handles the registration for SRINIVASAPURAM 1st STREET?

The Villivakkam Sub Registrar Office handles the registration for SRINIVASAPURAM 1st STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.