Guideline Value for Srinivasa Perumal Sannathi 2nd Street

Srinivasa Perumal Sannathi 2nd Street guideline value

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

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

As per the revisions, the guideline value for Srinivasa Perumal Sannathi 2nd Street has seen various changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The most recent figures are from the 2023 revision at Rs 8,000 per sq.ft, which increased to Rs 8,700 per sq.ft in the 2024 revision, marking a change of +9%.

Prior to the 2023 revision, the register does not provide any figures for this street. The 2024 guideline value of Rs 8,700 per sq.ft reflects the latest assessment of property values in the area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value is Rs 8,800 per sq.ft, indicating that the guideline value of Srinivasa Perumal Sannathi 2nd Street is 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 rate of Rs 8,700 per sq.ft, the guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, while the registration fee at 2% would be Rs 1,74,000. Together, the total cost for these fees would be 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.

You can use the stamp duty and registration fee calculator for precise calculations based on your property details.

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. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value is a critical factor in the registration of property transactions in Mylapore Part 2. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are essential costs incurred during the transaction process. Buyers should be aware of these values to better understand their financial obligations when engaging in property transactions.

Frequently asked questions

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

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

How much has the guideline value changed 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 is the land classification for this street?

Srinivasa Perumal Sannathi 2nd Street is classified under Residential Class I Type - III.

What are the stamp duty and registration fees for properties here?

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.

Which office handles registrations for this area?

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