Guideline Value for Srinivasa Perumal Sannathi 2nd Street

Srinivasa Perumal Sannathi 2nd Street guideline value

The current guideline value for Srinivasa Perumal Sannathi 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in the Mylapore Part 1 village, under the Chennai Central Joint I SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Srinivasa Perumal Sannathi 2nd Street has changed

The guideline value for Srinivasa Perumal Sannathi 2nd Street has seen several revisions over the years. As per the available records, there are no figures for this street in the years 2002, 2003, 2007, 2012, and 2017. The most recent figures show a guideline value of Rs 8,000 per sq.ft from the 2023 revision, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, the last recorded figure was from 2024 at Rs 8,700 per sq.ft. The revisions indicate a gradual increase in the guideline value, reflecting changes in the real estate landscape, albeit without specific figures for the earlier years.

Guideline values in Mylapore Part 1

Mylapore Part 1 comprises 333 streets under the Chennai Central Joint I SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for this area is Rs 8,800 per sq.ft, placing Srinivasa Perumal Sannathi 2nd Street's 2024 figure below this median.

• Srinivasa Perumal Sannathi 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total 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, bringing the total charges to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Perumal Sannathi 2nd Street?

The Srinivasa Perumal Sannathi 2nd Street falls under the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Mylapore Part 1, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, ensuring that all transactions comply with the legal framework.

Buyers and sellers must be aware of the current guideline value to accurately assess costs associated with property registration. This value is periodically revised to reflect changes in the real estate market, and it is essential for all parties involved in a transaction to stay informed about these updates.

Frequently asked questions

What is the current guideline value for Srinivasa Perumal Sannathi 2nd Street?

The current guideline value for Srinivasa Perumal Sannathi 2nd Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

Recently, the guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, reflecting a change of +9%.

What are the guideline values for other streets in Mylapore Part 1?

Other streets in Mylapore Part 1 have varying guideline values, with rates ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for the area is Rs 8,800 per sq.ft.

What is the registration office for Srinivasa Perumal Sannathi 2nd Street?

The registration office for Srinivasa Perumal Sannathi 2nd Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 87,00,000 would incur a stamp duty of Rs 6,09,000 at a rate of 7%.