Guideline Value for SRINIVASAPURAM 2ND STREET

Srinivasapuram 2nd Street guideline value

The current guideline value of Srinivasapuram 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasapuram 2nd Street has changed

The guideline value for Srinivasapuram 2nd Street has seen several revisions over the years. Starting from 2002, the guideline value was Rs 885 per sq.ft. It increased to Rs 979 per sq.ft in 2003, marking an 11% rise. The value continued to grow significantly, reaching Rs 1,800 per sq.ft in 2007, which was an increase of 84%. By 2012, the value was Rs 9,000 per sq.ft, reflecting a substantial 400% increase from the previous revision. However, it dropped to Rs 6,030 per sq.ft in 2017, a decrease of 33%.

In the subsequent years, the guideline value rose again, reaching Rs 9,000 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 set the value at Rs 9,900 per sq.ft, representing a 10% increase from the previous year. There are no figures available for other revisions for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which is also the current guideline value for Srinivasapuram 2nd Street.

• Srinivasapuram 3rd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram Main Road: Rs 9,900 per sq.ft (2024)
• Sriram Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Sriram Nagar Ist Street: Rs 9,900 per sq.ft (2024)
• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value would be Rs 99,00,000. The stamp duty at 7% would amount to Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for these fees to Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasapuram 2nd Street?

The Sub Registrar Office that covers Srinivasapuram 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two amounts is used to calculate the applicable duties. This ensures that the registration process is aligned with the established values in the area, providing a standardized approach to property transactions.

Frequently asked questions

What is the current guideline value of Srinivasapuram 2nd Street?

The current guideline value of Srinivasapuram 2nd Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 885 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 1019% over the years.

What is the land classification for Srinivasapuram 2nd Street?

Srinivasapuram 2nd Street is classified as Residential Class I Type - I.

What are the registration fees for property transactions?

For a property with a guideline value of Rs 99,00,000, the stamp duty would be Rs 6,93,000, and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000.

Which office handles the registration for Srinivasapuram 2nd Street?

The registration for Srinivasapuram 2nd Street is handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.