Guideline Value for SRINIVASA CROSS STREET

Srinivasa Cross Street guideline value

The current guideline value of Srinivasa Cross Street, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Srinivasa Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, where it continued to be Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Srinivasa Cross Street is below this median.

• Srinivasalu Cross Street: Rs 2,750 per sq.ft (2024)
• Srinivasalu Naidu Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nayakkar Street: Rs 2,750 per sq.ft (2024)
• Srinivasapuram: Rs 3,300 per sq.ft (2024)
• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the 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 more details.

Which Sub Registrar Office covers Srinivasa Cross Street?

The Sub Registrar Office that covers Srinivasa Cross 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable fees. The registration office will assess the property based on the guideline value, and the buyer will need to pay the stamp duty based on this value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Srinivasa Cross Street?

The current guideline value of Srinivasa Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

What are the other streets in Zaminpallavaram and their guideline values?

Other streets in Zaminpallavaram include Srinivasalu Cross Street at Rs 2,750 per sq.ft, Srinivasalu Naidu Street at Rs 3,850 per sq.ft, and others with varying rates. The guideline values range from Rs 2,100 to Rs 11,000 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a property valued at Rs 27,50,000, the total fees would be Rs 2,47,500.

Which office handles property registrations for Srinivasa Cross Street?

The Pallavaram Sub Registrar Office handles property registrations for Srinivasa Cross Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.