Guideline Value for Srinivasa Nagar 2nd Main Road

Srinivasa Nagar 2nd Main Road guideline value

The current guideline value of Srinivasa Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This road is located in Kolathur village under the Sembiam SRO, classified as Residential Special Type - I.

How the guideline value of Srinivasa Nagar 2nd Main Road has changed

The guideline value for Srinivasa Nagar 2nd Main Road has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in both 2012 and 2023. The latest revision in 2024 raised the value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. The overall change from 2007 to 2024 reflects an increase of 340% in the guideline value.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, placing the 2024 figure for Srinivasa Nagar 2nd Main Road above this median.

• Srinivasa Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Main Road (Part): Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 2nd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. Please note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar 2nd Main Road?

The Sub Registrar Office that covers Srinivasa Nagar 2nd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions in Kolathur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on it.

When purchasing property, it is essential to ensure that the sale price is in accordance with the guideline value to avoid any legal complications during registration. Understanding the guideline value helps both parties in the transaction to have a clear understanding of the costs involved.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 2nd Main Road?

The current guideline value of Srinivasa Nagar 2nd Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, representing a total increase of 340% over this period.

What is the median guideline value in Kolathur?

The median guideline value in Kolathur is Rs 3,300 per sq.ft, which is below the current value of Rs 4,400 per sq.ft for Srinivasa Nagar 2nd Main Road.

What are the stamp duty and registration fees for property in Srinivasa Nagar 2nd Main Road?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft property, the total cost for these fees would be Rs 3,96,000.

Which office should I contact for registration in this area?

The Sembiam Sub Registrar Office is responsible for registrations in this area, located at 5, Papermills Road, Sembiam, Chennai - 600011.