Guideline Value for Srinivasa Naidu street

Srinivasa Naidu street guideline value

The current guideline value of Srinivasa Naidu street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Srinivasa Naidu street has changed

The guideline value for Srinivasa Naidu street has undergone several revisions over the years. In 2007, the value was recorded at Rs 1,000 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, representing a 33% drop. The value saw a substantial increase again, reaching Rs 4,000 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that the guideline value register has no figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value in the area is Rs 4,900 per sq.ft, indicating that the 2024 guideline value of Srinivasa Naidu street is below this median.

• Soma Sundaram Mudali Ist Street: Rs 5,500 per sq.ft (2024)
• Soma Sundaram Mudali 2nd Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar Ist Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 6th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 5th Street: Rs 5,500 per sq.ft (2024)
• Somasundara Devar 4th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Naidu street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Naidu street?

The Sub Registrar Office that covers Srinivasa Naidu street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for properties in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during property transactions.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties in the transaction are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Naidu street?

The current guideline value of Srinivasa Naidu street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, showing an overall increase of 340% over the years.

What is the land classification for Srinivasa Naidu street?

The land classification for Srinivasa Naidu street is Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would be Rs 3,96,000.

Which office handles property registrations for Srinivasa Naidu street?

The AnnaNagar Sub Registrar Office handles property registrations for Srinivasa Naidu street, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.