Guideline Value for SRINIVASAPURAM 2nd MAIN ROAD

SRINIVASAPURAM 2nd MAIN ROAD guideline value

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

How the guideline value of SRINIVASAPURAM 2nd MAIN ROAD has changed

The guideline value for SRINIVASAPURAM 2nd MAIN ROAD has experienced several revisions over the years. Starting from the 2002 revision, the value was Rs 136 per sq.ft. This increased significantly to Rs 1,015 per sq.ft in 2007, marking a change of +646%. The value then 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 change of -33%. The most recent revision in 2024 saw a substantial rise to Rs 2,900 per sq.ft, which is an increase of +60% from the 2017 figure.

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

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value 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, making the current value of SRINIVASAPURAM 2nd MAIN ROAD above this median.

• SRINIVASAPURAM 2nd CROSS STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 2nd STREET: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 1st STREET: Rs 2,500 per sq.ft (2024)
• Srinivasapuram 3rd Cross Street: Rs 2,500 per sq.ft (2024)
• SRINIVASAPURAM 1st MAIN ROAD: Rs 2,900 per sq.ft (2024)
• SRINIVASAPURAM 3rd MAIN ROAD: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in SRINIVASAPURAM 2nd MAIN ROAD

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. Please 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 details.

Which Sub Registrar Office covers SRINIVASAPURAM 2nd MAIN ROAD?

The Sub Registrar Office that covers SRINIVASAPURAM 2nd MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during the registration of property transactions in Korattur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the guideline value is compared with the sale price. The higher of the two is used to determine the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of SRINIVASAPURAM 2nd MAIN ROAD?

The current guideline value of SRINIVASAPURAM 2nd 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 from Rs 136 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, showing an overall increase of +2032% over the years.

Where can I find the registration office for this area?

The registration office for SRINIVASAPURAM 2nd MAIN ROAD is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the stamp duty rate for property transactions in this area?

The stamp duty rate for property transactions in this area is 7% of the guideline value or the sale price, whichever is higher.

Are there other streets in Korattur with guideline values?

Yes, there are several other streets in Korattur with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft, with the median being Rs 2,500 per sq.ft.