Guideline Value for Srinivasa Perumal Sannathi 3rd Street

Srinivasa Perumal Sannathi 3rd Street guideline value

The current guideline value of Srinivasa Perumal Sannathi 3rd Street is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 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 3rd Street has changed

In the 2023 revision, the guideline value for Srinivasa Perumal Sannathi 3rd Street was Rs 8,000 per sq.ft. The current 2024 revision shows an increase of 9%, bringing the guideline value to Rs 8,700 per sq.ft. There are no figures available for the revisions in the years 2002, 2003, 2007, 2012, and 2017.

The increase from 2023 to 2024 reflects a change in the valuation, with the current figure now set at Rs 8,700 per sq.ft. This value is indicative of the current market conditions as assessed by the Chennai Central Joint I SRO.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, positioning Srinivasa Perumal Sannathi 3rd Street below this median.

• Srinivasa Perumal Sannathi 2nd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 1st Street: Rs 8,700 per sq.ft (2024)
• Sriram Nagar North Street: Rs 14,300 per sq.ft (2024)
• Sriman Srinivasa Road: 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 3rd 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 fees together to Rs 7,83,000. Please note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Perumal Sannathi 3rd Street?

The Srinivasa Perumal Sannathi 3rd Street is covered by 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 2

The guideline value plays a crucial role in the registration process of property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a fair assessment of value as determined by the local authorities. This process helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value for Srinivasa Perumal Sannathi 3rd Street?

The current guideline value for Srinivasa Perumal Sannathi 3rd Street is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Srinivasa Perumal Sannathi 3rd Street was Rs 8,000 per sq.ft in 2023. The increase to Rs 8,700 per sq.ft in 2024 represents a 9% rise. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017.

What is the registration office for this street?

The registration office for Srinivasa Perumal Sannathi 3rd 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 on properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 6,09,000 at a rate of 7%.

What is the median guideline value in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft. Srinivasa Perumal Sannathi 3rd Street's current guideline value is below this median.