Guideline Value for Srinivasa Nagar Main Road

Srinivasa Nagar Main Road guideline value

The current guideline value of Srinivasa Nagar Main Road is Rs 4,900 per sq.ft, effective from 1 July 2024. This road is located in Koyakbedu village, under the AnnaNagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Srinivasa Nagar Main Road has changed

The guideline value for Srinivasa Nagar Main Road has undergone several revisions over the years. In 2007, the value was Rs 1,300 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. Following this, the value saw a substantial rise to Rs 4,500 per sq.ft in 2023, and further increased to Rs 4,900 per sq.ft in 2024. The overall change from 2007 to 2024 reflects an increase of 277%.

In terms of percentage changes, there was a remarkable increase of 246% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017. The value then rose by 49% from 2017 to 2023, and subsequently increased by 9% from 2023 to 2024. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Koyakbedu

Koyakbedu village has a total of 270 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that the guideline value for Srinivasa Nagar Main Road is above the median.

• Srinivasa Nagar Ist street: 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 Main Road

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 at 7% would amount to Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, resulting in a total of Rs 4,41,000. 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 Main Road?

The Sub Registrar Office covering Srinivasa Nagar Main Road 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Koyakbedu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Main Road?

The current guideline value of Srinivasa Nagar Main Road 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, reflecting an overall increase of 277% over the years.

What is the land classification for Srinivasa Nagar Main Road?

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

What are the stamp duty and registration fees for buying property here?

For a property valued at the current guideline value, the stamp duty is calculated at 7%, and the registration fee at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 4,41,000 in duties and fees.

Which office handles the registration for Srinivasa Nagar Main Road?

The registration for Srinivasa Nagar Main Road is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.