Guideline Value for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street

Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street guideline value

The current guideline value for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village and falls under the Konnur SRO with a land classification of Residential Class I Type - I.

How the guideline value of Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 5,000 per sq.ft. This was followed by a decrease to Rs 3,350 per sq.ft in 2017, marking a -33% change. However, from 2017 to 2023, the value increased significantly to Rs 5,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, showing a 10% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft. The guideline value for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street is below this median.

• Srinivasa Nagar Kamaraj Ist Cross and Extension: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar: Rs 5,500 per sq.ft (2024)
• Sribalaji Avenue: Rs 7,100 per sq.ft (2024)
• Sparton Nagar: Rs 7,100 per sq.ft (2024)
• S.M. Narayanan Nagar: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. 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 Anna Street & 1st,2nd and 3rd Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street?

The current guideline value for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the registration office for this area?

The registration office for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What are the stamp duty and registration fees for property transactions?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same. For example, a 1,000 sq.ft plot would incur a total of Rs 4,95,000 in fees based on the current guideline value.

What is the land classification for this street?

The land classification for Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street is Residential Class I Type - I.