Guideline Value for Srinivasa Nagar street(Two Hills)

Srinivasa Nagar street(Two Hills) guideline value

The current guideline value of Srinivasa Nagar street(Two Hills) is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Srinivasa Nagar street(Two Hills) has changed

The guideline value of Srinivasa Nagar street(Two Hills) has seen several revisions over the years. In 2007, the guideline value was Rs 1,800 per sq.ft, which increased to Rs 3,600 per sq.ft in 2012. However, this value dropped to Rs 2,412 per sq.ft in 2017. The 2023 revision raised the value to Rs 3,600 per sq.ft, and the most recent revision in 2024 set it at Rs 3,900 per sq.ft. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

From 2017 to 2023, there was a significant increase of 49%, while the value saw a decrease of 33% from 2012 to 2017. The value doubled from Rs 1,800 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2012, marking a 100% increase. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO, with guideline values ranging from Rs 2,800 to Rs 22,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 7,100 per sq.ft, which means that the guideline value of Srinivasa Nagar street(Two Hills) is below this median.

• Srinivasa Perumal Street: Rs 7,100 per sq.ft (2024)
• Srinivasa Pillai salai: Rs 7,100 per sq.ft (2024)
• Srirangam Avenue: Rs 15,000 per sq.ft (2024)
• Stanley Nagar: Rs 2,800 per sq.ft (2024)
• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar street(Two Hills)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to Rs 3,51,000. It is important to note that the 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 more details.

Which Sub Registrar Office covers Srinivasa Nagar street(Two Hills)?

The Sub Registrar Office that covers Srinivasa Nagar street(Two Hills) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Egmore, as it determines the minimum value at which the property can be registered. This value is used to calculate the stamp duty and registration fees that buyers must pay at the time of property registration.

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

Frequently asked questions

What is the current guideline value of Srinivasa Nagar street(Two Hills)?

The current guideline value of Srinivasa Nagar street(Two Hills) is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 117% over these years.

What is the land classification for Srinivasa Nagar street(Two Hills)?

Srinivasa Nagar street(Two Hills) is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Srinivasa Nagar street(Two Hills)?

The Sub Registrar Office for Srinivasa Nagar street(Two Hills) is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for properties on Srinivasa Nagar street(Two Hills)?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 39,00,000, the stamp duty would be Rs 2,73,000 at 7%.