Guideline Value for Srinivasa Nagar 2nd Cross Street

Srinivasa Nagar 2nd Cross Street guideline value

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

How the guideline value of Srinivasa Nagar 2nd Cross Street has changed

Over the years, the guideline value of Srinivasa Nagar 2nd Cross Street has seen several revisions. The earliest recorded guideline value was Rs 525 per sq.ft in 2007. This increased significantly to Rs 2,700 per sq.ft in 2012, marking a 414% rise. However, between 2012 and 2017, the value decreased to Rs 1,809 per sq.ft, representing a 33% drop. From 2017 to 2023, the value increased sharply by 49% to Rs 2,700 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 2,970 per sq.ft, reflecting a 10% increase from the previous year.

The register does not contain figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 466%.

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 2nd Cross Street.

• Srinivasa Nagar 1st 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 2nd 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 would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost to Rs 2,67,300. It is important to note that 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 Srinivasa Nagar 2nd Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 2nd 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Hastinapuram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers should be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory during the property transaction process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, as it reflects the prevailing market conditions in the area. This helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 2nd Cross Street?

The current guideline value of Srinivasa Nagar 2nd 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 from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, showing an overall increase of 466% over the years.

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

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,67,300.

Which office handles the registration of properties in Srinivasa Nagar 2nd Cross Street?

The Pallavaram Sub Registrar Office handles the registration of properties in Srinivasa Nagar 2nd Cross Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Srinivasa Nagar 2nd Cross Street?

Srinivasa Nagar 2nd Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.