Guideline Value for SRINIVASAPURAM 2nd CROSS STREET

SRINIVASAPURAM 2nd CROSS STREET guideline value

The current guideline value of SRINIVASAPURAM 2nd CROSS 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. The land classification for this area is Residential Class II Type - III.

How the guideline value of SRINIVASAPURAM 2nd CROSS STREET has changed

Over the years, the guideline value of SRINIVASAPURAM 2nd CROSS STREET has seen significant changes. The 2002 revision recorded a guideline value of Rs 136 per sq.ft, which increased to Rs 1,015 per sq.ft in 2007, marking a remarkable rise of 646%. Following this, the value jumped to Rs 2,300 per sq.ft in 2012, reflecting a 127% increase. However, the value then decreased to Rs 1,541 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 2,300 per sq.ft, which then rose to Rs 2,500 per sq.ft in the 2024 revision, a change of 9%.

It is important to note that there is no figure available for the year 2003 in the register for this street. The overall change from 2002 to 2024 shows an impressive increase of 1738% in the guideline value per sq.ft.

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 for these streets is Rs 2,500 per sq.ft, which is equal to the guideline value of SRINIVASAPURAM 2nd CROSS STREET.

• SRINIVASAPURAM 2nd MAIN ROAD: Rs 2,900 per sq.ft (2024)
• SRINIVASAPURAM 1st STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 1st MAIN ROAD: Rs 2,900 per sq.ft (2024)
• SRINIVASAPURAM 1st CROSS 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 2nd CROSS 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 to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SRINIVASAPURAM 2nd CROSS STREET?

SRINIVASAPURAM 2nd CROSS STREET is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Korattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the market value of the property. It is essential to consider the guideline value when negotiating the sale price, as the registration fees and stamp duties are calculated based on this value.

Frequently asked questions

What is the current guideline value of SRINIVASAPURAM 2nd CROSS STREET?

The current guideline value of SRINIVASAPURAM 2nd CROSS 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 significantly from Rs 136 per sq.ft in 2002 to Rs 2,500 per sq.ft in 2024, an overall increase of 1738%.

Which Sub Registrar Office covers SRINIVASAPURAM 2nd CROSS STREET?

The Villivakkam Sub Registrar Office covers SRINIVASAPURAM 2nd CROSS STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the stamp duty for property in SRINIVASAPURAM 2nd CROSS STREET?

The stamp duty for a property in SRINIVASAPURAM 2nd CROSS STREET is 7% of the guideline value or sale price, whichever is higher.

Where can I find the guideline values for other streets in Korattur?

Guideline values for other streets in Korattur can be found in the registration department's guideline value register, which lists the values for various streets under the Villivakkam SRO.