Guideline Value for Srinivasa Nagar 1st Cross Street

Srinivasa Nagar 1st Cross Street guideline value

The current guideline value of Srinivasa Nagar 1st Cross Street is Rs 2,970 per sq.ft. This street is located in Hastinapuram village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar 1st Cross Street has changed

The guideline value for Srinivasa Nagar 1st Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 525 per sq.ft. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a substantial rise of 414%. However, the value decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. The value then rose again to Rs 2,700 per sq.ft in 2023, before reaching the current figure of Rs 2,970 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 466%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value is Rs 2,970 per sq.ft, which is the same as the current value for Srinivasa Nagar 1st Cross Street.

• Srinivasa Nagar 2nd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 4th Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 5th Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar Main Road: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value amounts to Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to 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 detailed calculations.

Which Sub Registrar Office covers Srinivasa Nagar 1st Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 1st Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Hastinapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties agree on a fair price for the transaction. It also plays a vital role in the legal documentation and transfer of ownership during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 1st Cross Street?

The current guideline value of Srinivasa Nagar 1st Cross Street is Rs 2,970 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 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 466% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Which office handles property registrations in Srinivasa Nagar 1st Cross Street?

The Pallavaram Sub Registrar Office handles property registrations for Srinivasa Nagar 1st Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in real estate transactions?

The guideline value is essential for determining the minimum price at which a property can be registered, influencing the stamp duty and registration fees applicable during a transaction.