Guideline Value for Srinivasa 2nd Lane

Srinivasa 2nd Lane guideline value

The current guideline value of Srinivasa 2nd Lane is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Srinivasa 2nd Lane has changed

In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. The value then increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and further rose to Rs 1,900 per sq.ft in the 2024 revision, reflecting a 6% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The 2023 revision saw an increase of 6% from the previous year, while there was a notable 49% increase from the 2017 revision to the 2023 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO with a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, placing Srinivasa 2nd Lane's 2024 figure below that median.

• Srinivasa 1st Lane: Rs 1,900 per sq.ft (2024)
• Srinivasan Street: Rs 2,700 per sq.ft (2024)
• Srinivasan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Srinivasa Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Srinivasapuram: Rs 2,700 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. Duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details on fees applicable to your property transaction.

Which Sub Registrar Office covers Srinivasa 2nd Lane?

The Sub Registrar Office that covers Srinivasa 2nd Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which properties can be registered. When buying or selling property in Kodungaiyur, the guideline value is used to calculate the stamp duty and registration fees applicable to the transaction.

It is important to note that the stamp duty is charged on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Srinivasa 2nd Lane?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the median guideline value in Kodungaiyur?

The median guideline value for streets in Kodungaiyur is Rs 2,700 per sq.ft, which is higher than the guideline value of Srinivasa 2nd Lane.

What are the stamp duty rates applicable in Chennai?

The stamp duty rate applicable in Chennai is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasa 2nd Lane?

The Sub Registrar Office for Srinivasa 2nd Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.