Guideline Value for Srinivasa Perumal Sannathi 1st Street

Srinivasa Perumal Sannathi 1st Street guideline value

The current guideline value of Srinivasa Perumal Sannathi 1st Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Srinivasa Perumal Sannathi 1st Street has changed

The guideline value for Srinivasa Perumal Sannathi 1st Street has seen revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. The most recent revision prior to 2024 was in 2023, where the guideline value was set at Rs 8,000 per sq.ft. This represents an increase of 9% to the current value of Rs 8,700 per sq.ft in 2024.

In the 2024 revision, the guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft. This increase reflects the adjustments made by the registration department based on various factors affecting property values in the area.

Guideline values in Mylapore Part 1

Within Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Srinivasa Perumal Sannathi 1st Street is below this median.

• Srinivasa Perumal Sannathi 2nd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 3rd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 8,700 per sq.ft (2024)
• Sriman Srinivasa Road: Rs 14,300 per sq.ft (2024)
• Sriram Nagar North Street: Rs 14,300 per sq.ft (2024)
• Sriram Nagar South Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Sannathi 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 8,700 per sq.ft, the guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, totaling Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Perumal Sannathi 1st Street?

The Sub Registrar Office that covers Srinivasa Perumal Sannathi 1st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. To find your SRO, visit find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor during the registration of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Sannathi 1st Street?

The current guideline value of Srinivasa Perumal Sannathi 1st Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2023 to 2024?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, representing a 9% increase.

What is the median guideline value for streets in Mylapore Part 1?

The median guideline value for streets in Mylapore Part 1 is Rs 8,800 per sq.ft, with Srinivasa Perumal Sannathi 1st Street's value being below this median.

What are the stamp duty and registration fees for property in Srinivasa Perumal Sannathi 1st Street?

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Where is the Sub Registrar Office for Srinivasa Perumal Sannathi 1st Street located?

The Sub Registrar Office for Srinivasa Perumal Sannathi 1st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.