Guideline Value for Srinivasa Nagar 5th Cross Street

Srinivasa Nagar 5th Cross Street guideline value

The current guideline value of Srinivasa Nagar 5th Cross Street is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram Sub Registrar Office (SRO), and is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar 5th Cross Street has changed

The guideline value for Srinivasa Nagar 5th Cross Street has undergone several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 525 per sq.ft. This figure saw a significant increase to Rs 2,700 per sq.ft in 2012, marking a rise of 414%. However, the value decreased to Rs 1,809 per sq.ft in 2017, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 2,700 per sq.ft, followed by the current value of Rs 2,970 per sq.ft in 2024, reflecting a 10% increase.

It is important to note that the register has no 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. The median for these streets is Rs 2,970 per sq.ft, which is equal to the guideline value of Srinivasa Nagar 5th Cross Street.

• Srinivasa Nagar 4th Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 3rd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 2nd Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar 1st Cross Street: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar Main Road: Rs 2,970 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 5th 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 be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total cost for these fees 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.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar 5th Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 5th Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 plays a crucial role in the registration process of property transactions in Hastinapuram. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions.

When buying or selling property, it is essential to consider the guideline value, as it can affect the overall costs involved in the transfer of ownership. This value is determined by the local government and is updated periodically to reflect changes in the real estate market.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 5th Cross Street?

The current guideline value of Srinivasa Nagar 5th 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 significantly from Rs 525 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What is the registration office for Srinivasa Nagar 5th Cross Street?

The registration office for Srinivasa Nagar 5th Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

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

For a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900, and the registration fee would be Rs 59,400, totaling Rs 2,67,300.

Where can I find more information about guideline values in Hastinapuram?

More information about guideline values in Hastinapuram can be found through the local registration department's resources or by visiting the Pallavaram Sub Registrar Office.