Guideline Value for Srinivasapuram 2nd Street

Srinivasapuram 2nd Street guideline value

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

How the guideline value of Srinivasapuram 2nd Street has changed

The guideline value for Srinivasapuram 2nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which was then increased to Rs 1,000 per sq.ft in the 2012 revision. The value remained unchanged at Rs 1,000 per sq.ft in the 2023 revision, before rising to Rs 1,100 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 120%.

There are no figures available for the revisions in 2002, 2003, and 2017 for this street. The 2023 revision maintained the value at Rs 1,000 per sq.ft, indicating stability in that period.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Srinivasapuram 2nd Street's 2024 figure below that median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total cost for these fees to Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasapuram 2nd Street?

The Sub Registrar Office covering Srinivasapuram 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Srinivasapuram 2nd Street 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 changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 120% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

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

Are there other streets with the same guideline value in Tondaiarpet?

Yes, other streets in Tondaiarpet, such as Srinivasapuram 2nd Lane, 3rd Lane, 1st Street, 4th Lane, and 1st Lane, also have a guideline value of Rs 1,100 per sq.ft as of 2024.