Guideline Value for SRINIVASA GARDEN

Srinivasa Garden guideline value

The current guideline value of Srinivasa Garden is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Guduvancheri village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Srinivasa Garden has changed

In the 2012 revision, the guideline value was set at Rs 100 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, reflecting a 49% increase. The 2024 revision has maintained this value at Rs 100 per sq.ft, indicating no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 100 per sq.ft.

Guideline values in Guduvancheri

In Guduvancheri, there are 9 streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 450 per sq.ft, with the median being Rs 100 per sq.ft. Srinivasa Garden's 2024 figure aligns with this median.

• Sri Kari Krishna Perumal Nagar: Rs 100 per sq.ft (2024)
• Sri Sai Garden: Rs 100 per sq.ft (2024)
• Sri Sakthi Sai Nagar: Rs 100 per sq.ft (2024)
• Saribha Nagar: Rs 100 per sq.ft (2024)
• Praveen Nagar: Rs 100 per sq.ft (2024)
• New Sun City: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Garden

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,00,000. The stamp duty is charged at 7%, amounting to Rs 7,000, and the registration fee is 2%, totaling Rs 2,000. Together, the fees would be Rs 9,000. 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 Srinivasa Garden?

The Sub Registrar Office that covers Srinivasa Garden is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Guduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government collects the appropriate taxes on property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Garden?

The current guideline value of Srinivasa Garden is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant shift occurring between 2017 and 2023, where it increased from Rs 67 to Rs 100 per sq.ft. The value has remained at Rs 100 per sq.ft since 2023.

What is the land classification for Srinivasa Garden?

Srinivasa Garden is classified as Residential Class II Type - I. This classification impacts the guideline value and the types of developments permitted in the area.

Where can I find the Sub Registrar Office for Srinivasa Garden?

The Sub Registrar Office for Srinivasa Garden is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 1,00,000, the stamp duty would be 7% of that amount.