Guideline Value for Srinivasan (Pillai) Street (W.M)

Srinivasan (Pillai) Street (W.M) guideline value

The current guideline value of Srinivasan (Pillai) Street (W.M) is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village, under the Ashok Nagar SRO, and is classified as Residential Class II Type - II.

How the guideline value of Srinivasan (Pillai) Street (W.M) has changed

The guideline value for Srinivasan (Pillai) Street (W.M) has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 6,000 per sq.ft. This figure then decreased to Rs 4,020 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value increased significantly to Rs 6,000 per sq.ft in the 2023 revision, and further rose to Rs 6,600 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The 2024 revision shows a 10% increase from 2023, which was Rs 6,000 per sq.ft. The significant increase from 2017 to 2023 was 49%, indicating a substantial change in the guideline value over that period.

Guideline values in Kodambakkam

In Kodambakkam, there are a total of 1,031 streets under the Ashok Nagar SRO that carry a guideline value for 2024, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value among these streets is Rs 4,900 per sq.ft, placing the 2024 guideline value of Srinivasan (Pillai) Street (W.M) above this median.

• Srinivasan (Ayyar) Street (Vivekanandapuram 2nd Street)(W.M): Rs 6,600 per sq.ft (2024)
• Srinivasan Ayyar Street Extension: Rs 6,000 per sq.ft (2024)
• Sridevi Colony: Rs 7,000 per sq.ft (2024)
• Stephen Street: Rs 3,300 per sq.ft (2024)
• Stunt. Somu Street: Rs 3,300 per sq.ft (2024)
• Subash Chandira Bose Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan (Pillai) Street (W.M)

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, leading to a total cost of Rs 5,94,000. 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 Srinivasan (Pillai) Street (W.M)?

The Sub Registrar Office that covers Srinivasan (Pillai) Street (W.M) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value of a property for registration purposes. Buyers and sellers must consider this value to ensure compliance with legal requirements during the transaction.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Srinivasan (Pillai) Street (W.M)?

The current guideline value of Srinivasan (Pillai) Street (W.M) is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed from 2012 to 2024?

From 2012 to 2024, the guideline value has increased by 10%, moving from Rs 6,000 per sq.ft in 2012 to Rs 6,600 per sq.ft in 2024.

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

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 4,62,000, and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office is responsible for Srinivasan (Pillai) Street (W.M)?

The Ashok Nagar Sub Registrar Office is responsible for Srinivasan (Pillai) Street (W.M), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Srinivasan (Pillai) Street (W.M)?

Srinivasan (Pillai) Street (W.M) is classified as Residential Class II Type - II, indicating the type of development permitted in the area.