Guideline Value for SREENIVASA ACHARY STREET

Sreenivasa Achary Street guideline value

The current guideline value of Sreenivasa Achary Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sreenivasa Achary Street has changed

The guideline value for Sreenivasa Achary Street has undergone several revisions over the years. In 2002, the value was Rs 443 per sq.ft. This increased to Rs 486 per sq.ft in 2003, marking a change of +10%. The value continued to rise, reaching Rs 800 per sq.ft in 2007, which was a significant increase of +65%. However, the value saw a decrease to Rs 4,000 per sq.ft in 2012, reflecting a drop of -33%. The 2017 revision set the value at Rs 2,680 per sq.ft, an increase of +49% from the previous revision. The most recent revisions show an increase to Rs 4,000 per sq.ft in 2023 and a further rise to Rs 4,300 per sq.ft in 2024, which is an increase of +8%.

There are no figures available for the revisions in the years not listed. The overall change from 2002 to 2024 is an increase of +871%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Sreenivasa Achary Street's 2024 figure above that median.

• Sreenivasan Mudali Street: Rs 3,800 per sq.ft (2024)
• Somasundara Nagar: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar Main Road: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 2nd Street: Rs 3,200 per sq.ft (2024)
• Somasundaram Nagar 1st Street: Rs 3,200 per sq.ft (2024)
• Slum Clearance Board Quarters: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sreenivasa Achary Street

For a 1,000 sq.ft plot at the current rate of Rs 4,300 per sq.ft, the guideline value would be Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sreenivasa Achary Street?

The Sub Registrar Office that covers Sreenivasa Achary Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers must consider the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sreenivasa Achary Street?

The current guideline value of Sreenivasa Achary Street is Rs 4,300 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 443 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of +871%.

What is the stamp duty for property in Sreenivasa Achary Street?

The stamp duty for property in Sreenivasa Achary Street is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office located for Sreenivasa Achary Street?

The Sub Registrar Office covering Sreenivasa Achary Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Perambur?

The median guideline value in Perambur is Rs 2,700 per sq.ft, with Sreenivasa Achary Street's current value being above this median.