Guideline Value for Srinivasa Nagar Annexe

Srinivasa Nagar Annexe guideline value

The current guideline value of Srinivasa Nagar Annexe, located in Srinivasapuram village under the Kunrathur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Srinivasa Nagar Annexe has changed

The guideline value for Srinivasa Nagar Annexe has undergone several revisions over the years. In 2003, the guideline value was Rs 36 per sq.ft, which saw a significant increase to Rs 400 per sq.ft in 2007. This was followed by a dramatic rise to Rs 1,800 per sq.ft in 2012. However, the value decreased to Rs 1,206 per sq.ft in 2017. The 2023 revision set the value at Rs 1,800 per sq.ft, which increased to Rs 2,000 per sq.ft in 2024, marking an 11% rise from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 5,456%. The register has no figure for the year 2002 for this street.

Guideline values in Srinivasapuram

Srinivasapuram village has 39 streets under the Kunrathur SRO with a 2024 guideline value range from Rs 1,550 to Rs 7,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing the guideline value of Rs 2,000 per sq.ft for Srinivasa Nagar Annexe above this median.

• Srinivasa Nagar: Rs 2,000 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,550 per sq.ft (2024)
• Sri Kamatchi Amman Nagar I & II: Rs 2,000 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,600 per sq.ft (2024)
• Sri Iyyappan Nagar: Rs 1,550 per sq.ft (2024)
• Sri Sangeetham Nagar: Rs 1,550 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Annexe

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees together to Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Annexe?

The Sub Registrar Office that covers Srinivasa Nagar Annexe is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Srinivasapuram. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of this value to ensure compliance with legal requirements when transferring property ownership.

When registering a property, the guideline value is considered the minimum value for the transaction. This means that even if the sale price is lower than the guideline value, the duty will still be calculated based on the guideline value, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Annexe?

The current guideline value of Srinivasa Nagar Annexe is Rs 2,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2003, the guideline value has increased significantly, from Rs 36 per sq.ft to Rs 2,000 per sq.ft in 2024, representing an overall increase of 5,456%.

What are the other streets in Srinivasapuram and their guideline values?

Other streets in Srinivasapuram include Srinivasa Nagar at Rs 2,000 per sq.ft, Sri Ram Nagar at Rs 1,550 per sq.ft, and several others with varying values up to Rs 3,600 per sq.ft.

What fees are associated with buying property in Srinivasa Nagar Annexe?

When buying property, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasa Nagar Annexe?

The Kunrathur Sub Registrar Office covers Srinivasa Nagar Annexe, located at No.59, Road Street, Kundrathur, Chennai -600 069.