Guideline Value for Srinivasa Nagar Ist street

Srinivasa Nagar Ist street guideline value

The current guideline value of Srinivasa Nagar Ist 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 Ist street has changed

The guideline value for Srinivasa Nagar Ist street has seen several revisions over the years. The earliest recorded figure is from 2007, with a guideline value of Rs 1,300 per sq.ft. This value increased significantly to Rs 4,500 per sq.ft in 2012, marking a rise of 246%. However, it then decreased to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and currently stands at Rs 4,900 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. The overall change from 2007 to 2024 shows an increase of 277%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Koyakbedu

Koyakbedu village has 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 Ist street's 2024 value above this median.

• Srinivasa Nagar Main Road: Rs 4,900 per sq.ft (2024)
• Srinivasa Nagar Annexe 2nd Street: Rs 4,900 per sq.ft (2024)
• Srinivasa Nagar 2nd street: 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 Ist street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be Rs 49,00,000. The stamp duty, charged at 7%, would amount to Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, leading to a total of Rs 4,41,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Srinivasa Nagar Ist street?

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

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

The guideline value is a crucial factor in property transactions in Koyakbedu, as it determines the minimum value at which a property can be registered. This value is used to calculate stamp duty and registration fees, which are essential costs involved in the buying and selling process.

When a property is sold, the buyer must pay 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 Ist street?

The current guideline value of Srinivasa Nagar Ist 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 from Rs 1,300 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 277% over the years.

What is the classification of land in Srinivasa Nagar Ist street?

Srinivasa Nagar Ist street is classified as Residential Class II Type - II under the guideline value register.

What are the registration fees for properties in this area?

Registration fees are calculated based on the guideline value, with a stamp duty of 7% and a registration fee of 2% applicable on the property value.

Where can I find the Sub Registrar Office for this street?

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