Guideline Value for Big Street

Big Street guideline value

The current guideline value of Big Street in Srikaligapuram village is Rs 150 per sq.ft, effective from 1 July 2024. This street falls under the Ramakrishna Rajupettai SRO and is classified as Residential Class I Type - I.

How the guideline value of Big Street has changed

Over the years, the guideline value for Big Street has seen several revisions. The earliest recorded revision was in 2007, where the value was Rs 40 per sq.ft. This increased to Rs 75 per sq.ft in 2012, marking an increase of 88%. However, the value then decreased to Rs 50 per sq.ft in 2017, which was a decline of 33%. From 2017 to 2023, the value jumped significantly to Rs 150 per sq.ft, reflecting a 200% increase. The current revision for 2024 remains at Rs 150 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures recorded for Big Street in the years 2002 and 2003. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 275%.

Guideline values in Srikaligapuram

In Srikaligapuram, there are 17 streets under the Ramakrishna Rajupettai SRO that carry a 2024 guideline value, all set at Rs 150 per sq.ft, with the median also being Rs 150 per sq.ft. Big Street's 2024 figure aligns perfectly with this median.

• Anna St: Rs 150 per sq.ft (2024)
• Gandehi St: Rs 150 per sq.ft (2024)
• Indra Nagar: Rs 150 per sq.ft (2024)
• Kamarajar St: Rs 150 per sq.ft (2024)
• Kirubanantha Variyar St: Rs 150 per sq.ft (2024)
• Madam St: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Big Street

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty, charged at 7%, would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Big Street?

Big Street is covered by the Ramakrishna Rajupettai Sub Registrar Office, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Srikaligapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value will be referenced to calculate the applicable duties. It is essential for buyers and sellers to be aware of this value, as it directly impacts the financial obligations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Big Street?

The current guideline value of Big Street in Srikaligapuram village is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Big Street has changed from Rs 40 per sq.ft in 2007 to Rs 150 per sq.ft in 2024, representing an overall increase of 275% since 2007.

What are the other streets in Srikaligapuram with the same guideline value?

Other streets in Srikaligapuram under the Ramakrishna Rajupettai SRO also have a guideline value of Rs 150 per sq.ft in 2024, including Anna St, Gandehi St, Indra Nagar, Kamarajar St, Kirubanantha Variyar St, and Madam St.

What is the registration fee for property in Big Street?

The registration fee for property in Big Street is calculated based on the guideline value. For example, for a property valued at Rs 1,50,000, the registration fee would be Rs 3,000 at 2%.

Which office handles property registrations for Big Street?

The Ramakrishna Rajupettai Sub Registrar Office handles property registrations for Big Street, located at Pallipattu Road, Rk Pettai 631 303, Chennai registration zone.