Guideline Value for FORTUNE SPRINGS SRINIVASA STREET

Fortune Springs Srinivasa Street guideline value

The current guideline value of Fortune Springs Srinivasa Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Thirumazhisai village, under the Poonamallee SRO, and is classified as Commercial Special Type - I.

How the guideline value of Fortune Springs Srinivasa Street has changed

The guideline value for Fortune Springs Srinivasa Street has seen several revisions over the years. In 2012, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,200 per sq.ft in 2023, and then further rose to Rs 1,320 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 is an increase of 10%, with the most recent revision reflecting a 10% increase from the previous year's figure.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 730 to Rs 3,500 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, which is the same as the current value for Fortune Springs Srinivasa Street.

• FORTUNE SPRINGS Layout: Rs 2,475 per sq.ft (2024)
• Elumalai Mudhaliyar Nagar: Rs 1,650 per sq.ft (2024)
• Elumalai Mudaliar Street: Rs 1,320 per sq.ft (2024)
• Ellappan Nagar: Rs 1,320 per sq.ft (2024)
• Grace Nagar: Rs 1,320 per sq.ft (2024)
• C.R.Garden: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in Fortune Springs Srinivasa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400. Together, these fees would total Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Fortune Springs Srinivasa Street?

The Sub Registrar Office that covers Fortune Springs Srinivasa Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Thirumazhisai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the value of the property in the eyes of the law. It is essential for buyers to be aware of the guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Fortune Springs Srinivasa Street?

The current guideline value of Fortune Springs Srinivasa Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Fortune Springs Srinivasa Street?

Fortune Springs Srinivasa Street is classified as Commercial Special Type - I.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the stamp duty rate for properties in Fortune Springs Srinivasa Street?

The stamp duty rate for properties in Fortune Springs Srinivasa Street is 7% of the guideline value or the sale price, whichever is higher.