Guideline Value for IRATAIMALAI SRINIVASAN STREET

Irataimalai Srinivasan Street guideline value

The current guideline value of Irataimalai Srinivasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village, under the Pallavaram SRO, and is classified as Residential Class I Type - I.

How the guideline value of Irataimalai Srinivasan Street has changed

Over the years, the guideline value for Irataimalai Srinivasan Street has seen several revisions. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased to Rs 1,500 per sq.ft in 2023, and the most recent revision in 2024 has raised it to Rs 1,980 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the value increased by 32% from 2023 to 2024, and by 24% from 2017 to 2023. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruvancheri

In Thiruvancheri village, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 5,000 per sq.ft. The median value among these streets is Rs 1,980 per sq.ft, which is equal to the guideline value of Irataimalai Srinivasan Street.

• Iyyanar Street: Rs 1,980 per sq.ft (2024)
• Jaganathan Street: Rs 1,980 per sq.ft (2024)
• Jai Nagar: Rs 3,850 per sq.ft (2024)
• Jalan Kennady Street: Rs 1,980 per sq.ft (2024)
• Jayalalitha Street: Rs 1,100 per sq.ft (2024)
• Jothi Nagar: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Irataimalai Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty, calculated at 7%, would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Irataimalai Srinivasan Street?

The Sub Registrar Office that covers Irataimalai Srinivasan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value is considered alongside the sale price. If the sale price is higher than the guideline value, the stamp duty and registration fees will be based on the sale price. This ensures that the transaction reflects the actual market conditions while adhering to the regulatory framework.

Frequently asked questions

What is the current guideline value of Irataimalai Srinivasan Street?

The current guideline value of Irataimalai Srinivasan Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for Irataimalai Srinivasan Street?

Irataimalai Srinivasan Street is classified as Residential Class I Type - I.

Which office handles property registrations for this street?

The Pallavaram Sub Registrar Office is responsible for property registrations for Irataimalai Srinivasan Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

How is the stamp duty calculated for properties in Thiruvancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.