Guideline Value for Srinivasa Nayakkar Street

Srinivasa Nayakkar Street guideline value

The current guideline value of Srinivasa Nayakkar Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Srinivasa Nayakkar Street has changed

The guideline value for Srinivasa Nayakkar Street has undergone several revisions over the years. In the 2003 revision, the value was Rs 486 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2007, marking a change of +65%. The value remained unchanged at Rs 2,500 per sq.ft from 2012 until the 2023 revision, which also retained the same figure. However, from 2023 to 2024, there was a notable increase of +10%, bringing the guideline value to Rs 2,750 per sq.ft.

It is important to note that the register has no figures for the years 2002 and 2017 for this street. Overall, from 2003 to 2024, the guideline value has increased by +466%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value in the village is Rs 3,300 per sq.ft, placing Srinivasa Nayakkar Street's 2024 figure below this median.

• Srinivasapuram: Rs 3,300 per sq.ft (2024)
• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Srinivasalu Naidu Street: Rs 3,850 per sq.ft (2024)
• Srinivasalu Cross Street: Rs 2,750 per sq.ft (2024)
• Srinivasa Cross Street: Rs 2,750 per sq.ft (2024)
• Sri Ragavendra Nagar,Old Pallavaram: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nayakkar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, while the registration fee at 2% would be Rs 55,000. Together, these fees total Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nayakkar Street?

The Sub Registrar Office that covers Srinivasa Nayakkar Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased, ensuring that the transaction is recorded at a fair value.

When buyers and sellers engage in property transactions, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Srinivasa Nayakkar Street?

The current guideline value of Srinivasa Nayakkar Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 486 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of +466% over this period.

What are the stamp duty and registration fees for properties on this street?

For a property valued at the current guideline value of Rs 27,50,000, the stamp duty would be Rs 1,92,500, and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office should I visit for transactions on this street?

The Pallavaram Sub Registrar Office covers Srinivasa Nayakkar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

Are there other streets with different guideline values in Zaminpallavaram?

Yes, there are several other streets in Zaminpallavaram with varying guideline values. For instance, Srinivasapuram has a guideline value of Rs 3,300 per sq.ft, while other streets like Srinivasa Street and Srinivasa Cross Street have a value of Rs 2,750 per sq.ft.