Guideline Value for Srinivasan Ayyar Street Extension

Srinivasan Ayyar Street Extension guideline value

The current guideline value of Srinivasan Ayyar Street Extension is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Srinivasan Ayyar Street Extension has changed

The guideline value for Srinivasan Ayyar Street Extension has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,210 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in the 2012 revision, marking a substantial rise of 355%. However, in the 2017 revision, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The 2023 revision saw the value increase to Rs 5,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 396%. There are no figures available in the register for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Srinivasan Ayyar Street Extension above that median.

• Srinivasan (Ayyar) Street (Vivekanandapuram 2nd Street)(W.M): Rs 6,600 per sq.ft (2024)
• Srinivasan (Pillai) Street (W.M): Rs 6,600 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 Ayyar Street Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, bringing the total fees to Rs 5,40,000. 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 Ayyar Street Extension?

The Sub Registrar Office that covers Srinivasan Ayyar Street Extension is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is legally recognized. It is essential for both parties to understand how this value impacts their financial obligations during the property transfer process.

Frequently asked questions

What is the current guideline value of Srinivasan Ayyar Street Extension?

The current guideline value of Srinivasan Ayyar Street Extension is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,210 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 396% over the years.

What is the land classification for Srinivasan Ayyar Street Extension?

The land classification for Srinivasan Ayyar Street Extension is Residential Class II Type - III.

Where is the Ashok Nagar Sub Registrar Office located?

The Ashok Nagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total fee of Rs 5,40,000.