Guideline Value for Srinivasapuram 2nd Lane

Srinivasapuram 2nd Lane guideline value

The current guideline value of Srinivasapuram 2nd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO, and is classified as Residential Class II Type - II.

How the guideline value of Srinivasapuram 2nd Lane has changed

Over the years, the guideline value of Srinivasapuram 2nd Lane has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which then increased to Rs 1,000 per sq.ft in the 2012 revision. This figure remained unchanged until the 2023 revision, where it was again Rs 1,000 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 1,100 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes in guideline value from 2007 to 2024 show a significant overall increase of 120%. The 2007 to 2012 revision saw a 100% increase, while the 2012 to 2023 period had no changes. Notably, the register has no figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Srinivasapuram 2nd Lane is below this median.

• Srinivasapuram 2nd Street: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 1st Lane: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 3rd Lane: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 4th Lane: Rs 1,100 per sq.ft (2024)
• Srinivasa Ramanujam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Srinivasapuram 2nd Lane?

The Sub Registrar Office that covers Srinivasapuram 2nd Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

When buying or selling property in Tondaiarpet, the guideline value plays a crucial role during the registration process. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a standardized value.

Both buyers and sellers should be aware that the guideline value is used to determine the applicable fees, and it is essential to check the current rates to avoid any discrepancies during the registration of property transactions.

Frequently asked questions

What is the current guideline value of Srinivasapuram 2nd Lane?

The current guideline value of Srinivasapuram 2nd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024. The most notable increase was between 2007 and 2012, where it doubled to Rs 1,000 per sq.ft.

What is the land classification for Srinivasapuram 2nd Lane?

Srinivasapuram 2nd Lane is classified as Residential Class II Type - II, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasapuram 2nd Lane?

The Sub Registrar Office for Srinivasapuram 2nd Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.