Guideline Value for Srinivasa Nagar 2nd Street

Srinivasa Nagar 2nd Street guideline value

The current guideline value of Srinivasa Nagar 2nd Street is Rs 3,900 per sq.ft. This street is located in Kottivakkam village, under the Adayar SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Srinivasa Nagar 2nd Street has undergone several revisions over the years. In 2002, the guideline value was Rs 320 per sq.ft. This increased significantly to Rs 381 per sq.ft in 2003, marking a change of +19%. Following this, the value surged to Rs 2,400 per sq.ft in 2007, reflecting a substantial increase of +530%. In 2012, the value adjusted to Rs 3,500 per sq.ft, which was a decrease of -33%. The 2017 revision saw another increase to Rs 2,345 per sq.ft, and by 2023, it rose to Rs 3,500 per sq.ft. The most recent revision in 2024 has set the value at Rs 3,900 per sq.ft, an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1119%. There are no figures available in the register for any revisions between these years for this street.

Guideline values in Kottivakkam

Kottivakkam has 284 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value for Srinivasa Nagar 2nd Street.

• Srinivasa Nagar 1st Street: Rs 3,900 per sq.ft (2024)
• Srinivasa Nagar Main Road: Rs 3,900 per sq.ft (2024)
• Srinivasa Nagar: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 1st Street: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 2nd Street: Rs 3,900 per sq.ft (2024)
• Sri Ram Avenue 3rd Street: Rs 3,900 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. 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 details.

Which Sub Registrar Office covers Srinivasa Nagar 2nd Street?

The Sub Registrar Office that covers Srinivasa Nagar 2nd Street is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kottivakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that these fees are based on a standardized valuation, which is essential for maintaining transparency in property transactions.

Frequently asked questions

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

The current guideline value of Srinivasa Nagar 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 320 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +1119% over the years.

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

Srinivasa Nagar 2nd Street is classified as Residential Class II Type - I.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Where is the Sub Registrar Office for Srinivasa Nagar 2nd Street located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, and it covers Srinivasa Nagar 2nd Street.