Guideline Value for SRINIVASA PURAM

Srinivasa Puram guideline value

The current guideline value of Srinivasa Puram is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Tnagar village, under the Thiyagaraya nagar Sub Registrar Office (SRO). The land classification for this street is Residential Class III Type - II.

How the guideline value of Srinivasa Puram has changed

The guideline value for Srinivasa Puram has seen significant changes over the years. In 2002, the value was Rs 1,021 per sq.ft, which increased to Rs 1,134 per sq.ft in 2003. The value then rose to Rs 2,000 per sq.ft in 2007, followed by a decrease to Rs 5,000 per sq.ft in 2012. A notable increase occurred in 2017, bringing the value to Rs 3,350 per sq.ft, and it further increased to Rs 5,000 per sq.ft in 2023. The current guideline value stands at Rs 5,500 per sq.ft as of the 2024 revision.

Between the revisions, there were several notable changes. From 2002 to 2003, the increase was +11%. The value then saw a significant rise of +76% from 2003 to 2007. Following that, there was a +150% increase from 2007 to 2012. However, from 2012 to 2017, the value decreased by -33%. The value increased by +49% from 2017 to 2023, and the most recent change from 2023 to 2024 is +10%. Overall, from 2002 to 2024, the guideline value has increased by +439%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median guideline value for these streets is Rs 11,000 per sq.ft, placing the guideline value of Srinivasa Puram below this median.

• Srinivasa Reddy Street: Rs 6,600 per sq.ft (2024)
• Srinivasa Road: Rs 13,200 per sq.ft (2024)
• Subbupillai Thottam: Rs 5,500 per sq.ft (2024)
• South West Boag Road: Rs 11,000 per sq.ft (2024)
• South Dhandapani Street / Dhandapani Street: Rs 13,200 per sq.ft (2024)
• South Boag Road (Southern Side Of Thiagaraya Road): Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Puram

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Puram?

The Sub Registrar Office that covers Srinivasa Puram is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a critical factor when registering a property in Tnagar. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a property is bought or sold, the guideline value helps in calculating the applicable fees. Buyers must be aware of the guideline value to ensure compliance with registration requirements and to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Puram?

The current guideline value of Srinivasa Puram is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,021 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of +439%.

What is the land classification for Srinivasa Puram?

The land classification for Srinivasa Puram is Residential Class III Type - II.

Where is the Thiyagaraya nagar Sub Registrar Office located?

The Thiyagaraya nagar Sub Registrar Office is located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated in Srinivasa Puram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.