Guideline Value for Srinivasa Nagar 2nd Street

Srinivasa Nagar 2nd Street guideline value

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

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

The guideline value for Srinivasa Nagar 2nd Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision. This figure remained unchanged through the 2023 revision, which also recorded Rs 4,000 per sq.ft. However, the most recent 2024 revision has increased the guideline value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value, 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 Srinivasa Nagar 2nd Street's 2024 figure above that median.

• Srinivasa Nagar 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 3rd Street: Rs 4,400 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 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srinivasa Nagar 2nd Street?

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

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

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 4,400 per sq.ft, effective from 1 July 2024.

How much 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, reflecting a total increase of 340% over this period.

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

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

What are the stamp duty rates for property in this area?

The stamp duty for property transactions in this area is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the same amount.

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

The Sub Registrar Office for Srinivasa Nagar 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.