Guideline Value for Srinivasa Nagar 2nd street

Srinivasa Nagar 2nd street guideline value

The current guideline value of Srinivasa Nagar 2nd street in Koyakbedu village is Rs 4,900 per sq.ft, effective from 1 July 2024. This street falls under the AnnaNagar SRO and is classified as Residential Class II Type - II.

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

Over the years, the guideline value of Srinivasa Nagar 2nd street has seen several revisions. The 2007 revision set the value at Rs 1,300 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 246% rise. However, the value decreased to Rs 3,015 per sq.ft in 2017, a decline of 33%. The subsequent revisions saw the value rise again to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024, reflecting a 9% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 277%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median guideline value in this village is Rs 4,400 per sq.ft, placing Srinivasa Nagar 2nd street's 2024 value above this median.

• Srinivasa Nagar Annexe 2nd Street: Rs 4,900 per sq.ft (2024)
• Srinivasa Nagar Ist street: Rs 4,900 per sq.ft (2024)
• Srinivasa Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Sri Ayyappa Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Sri Ayyappa Nagar Ist Cross Street: Rs 4,900 per sq.ft (2024)
• Sri Ayyappa Nagar, 6th Main Road: 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 rate of Rs 4,900 per sq.ft, the guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, totaling Rs 4,41,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Srinivasa Nagar 2nd street?

The Sub Registrar Office that covers Srinivasa Nagar 2nd street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

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 4,900 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 1,300 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 277% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office is responsible for Srinivasa Nagar 2nd street?

The AnnaNagar Sub Registrar Office is responsible for Srinivasa Nagar 2nd street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the median guideline value in Koyakbedu?

The median guideline value in Koyakbedu is Rs 4,400 per sq.ft, with Srinivasa Nagar 2nd street's 2024 value being above this median.