Guideline Value for SRINIVASA PALMS @ PERUMBAKKAM

Srinivasa Palms @ Perumbakkam guideline value

The current guideline value of Srinivasa Palms @ Perumbakkam is Rs 3,200 per sq.ft, effective from 1 July 2024. This property is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Industries Type - I.

How the guideline value of Srinivasa Palms @ Perumbakkam has changed

The guideline value for Srinivasa Palms has seen several revisions over the years. The 2017 revision set the value at Rs 2,010 per sq.ft, which was then increased to Rs 3,005 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 3,200 per sq.ft, reflecting a 6% increase from the previous year. Overall, from 2017 to 2024, there has been a significant increase of 59%.

There are no figures available for the revisions in 2002, 2003, 2007, or 2012 for this street. However, the changes from 2017 to 2023 were substantial, with a 50% increase noted during that period.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, making the guideline value of Srinivasa Palms @ Perumbakkam above the median.

• Sri Perumal Nagar: Rs 2,725 per sq.ft (2024)
• Sri Nargunam Avenue: Rs 850 per sq.ft (2024)
• Sri Moogambigai Nagar: Rs 1,600 per sq.ft (2024)
• Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension): Rs 3,300 per sq.ft (2024)
• Sri Sai Garden: Rs 3,200 per sq.ft (2024)
• Sri Sai Garden Annex: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Palms @ Perumbakkam

For a 1,000 sq.ft plot at the current rate of Rs 3,200 per sq.ft, the guideline value amounts to Rs 32,00,000. The stamp duty at 7% would be Rs 2,24,000, and the registration fee at 2% would be Rs 64,000, totaling Rs 2,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Palms @ Perumbakkam?

The Sub Registrar Office that covers Srinivasa Palms @ Perumbakkam is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately in the government registry.

When a property is sold, the guideline value helps determine the legal obligations of both the buyer and seller, ensuring compliance with local regulations. Buyers should be aware of the guideline value to understand their financial responsibilities during the transaction.

Frequently asked questions

What is the current guideline value of Srinivasa Palms @ Perumbakkam?

The current guideline value of Srinivasa Palms @ Perumbakkam is Rs 3,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,200 per sq.ft in 2024, marking an overall increase of 59% over this period.

What are the guideline values of other streets in Perumbakkam?

Other streets in Perumbakkam have varying guideline values, with rates ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for the area is Rs 2,725 per sq.ft.

What are the stamp duty and registration fees for property in Srinivasa Palms?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees amount to Rs 2,88,000, calculated based on the guideline value of Rs 32,00,000.

Which office handles property registrations for Srinivasa Palms?

The Selaiyur Sub Registrar Office handles property registrations for Srinivasa Palms @ Perumbakkam, located at No.36, Bharathmatha Salai, Chennai - 600 073.