Guideline Value for SRINIVASAPURAM 3RD CROSS STREET

Srinivasapuram 3rd Cross Street guideline value

The current guideline value of Srinivasapuram 3rd 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 3rd Cross Street has changed

The guideline value for Srinivasapuram 3rd Cross Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, an increase from Rs 2,300 per sq.ft in 2023. Prior to that, the value was Rs 1,541 per sq.ft in 2017, and Rs 2,300 per sq.ft in 2012. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 9%.

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, with a median value of Rs 2,500 per sq.ft. The guideline value for Srinivasapuram 3rd Cross Street aligns perfectly with this median.

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

Stamp duty and registration fee for property in Srinivasapuram 3rd 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasapuram 3rd Cross Street?

The Sub Registrar Office covering Srinivasapuram 3rd Cross Street is 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Korattur. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with the transfer of property ownership. This value serves as a benchmark for determining the minimum sale price for properties in the area.

Frequently asked questions

What is the current guideline value of Srinivasapuram 3rd Cross Street?

The current guideline value of Srinivasapuram 3rd 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 from Rs 2,300 per sq.ft in 2023 to Rs 2,500 per sq.ft in 2024. It was Rs 1,541 per sq.ft in 2017 and Rs 2,300 per sq.ft in 2012.

What is the land classification for Srinivasapuram 3rd Cross Street?

The land classification for Srinivasapuram 3rd Cross Street is Residential Class II Type - III.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where can I find the Sub Registrar Office for Srinivasapuram 3rd Cross Street?

The Sub Registrar Office for Srinivasapuram 3rd Cross Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.