Guideline Value for Srinivasa Nagar 3rd Cross Street

Srinivasa Nagar 3rd Cross Street guideline value

The current guideline value of Srinivasa Nagar 3rd Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasa Nagar 3rd Cross Street has changed

The guideline value for Srinivasa Nagar 3rd Cross Street has seen several revisions over the years. In 2007, the guideline value was Rs 525 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, this figure dropped to Rs 1,809 per sq.ft in 2017, marking a decrease of 33%. From 2017 to 2023, the guideline value rose substantially by 49% to reach Rs 2,700 per sq.ft, and the most recent revision in 2024 has set it at Rs 2,970 per sq.ft, reflecting an increase of 10%.

The register does not have 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, with the median being Rs 2,970 per sq.ft. The guideline value for Srinivasa Nagar 3rd Cross Street aligns with this median.

• Srinivasa Nagar 2nd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 4th Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 1st 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 3rd 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 fees together to Rs 2,67,300. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Srinivasa Nagar 3rd Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 3rd 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 more information.

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

The guideline value is a crucial factor in property transactions in Hastinapuram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Additionally, the guideline value can influence negotiations between buyers and sellers, as it provides a benchmark for property valuations. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 3rd Cross Street?

The current guideline value of Srinivasa Nagar 3rd 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, reflecting a significant overall increase of 466% over the years.

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

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

Which office handles registrations for properties in this street?

The Pallavaram Sub Registrar Office handles registrations for properties in Srinivasa Nagar 3rd Cross Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the land classification for Srinivasa Nagar 3rd Cross Street?

The land classification for Srinivasa Nagar 3rd Cross Street is Residential Class I Type - I, indicating its suitability for residential development.