Guideline Value for SRINIVASA RAO ROAD/STREET

Srinivasa Rao Road/Street guideline value

The current guideline value of Srinivasa Rao Road/Street is Rs 8,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Srinivasa Rao Road/Street has changed

The guideline value for Srinivasa Rao Road/Street has undergone several revisions over the years. In 2012, the value was Rs 7,500 per sq.ft, which decreased to Rs 5,025 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 7,500 per sq.ft in 2023, and then rose again to the current value of Rs 8,200 per sq.ft in 2024, marking a 9% increase from the previous year.

From 2012 to 2024, the overall change in guideline value is an increase of 9%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street in the register.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, indicating that the guideline value for Srinivasa Rao Road/Street is below this median.

• Srinivasapuram (Hut Area): Rs 3,300 per sq.ft (2024)
• Srinivasapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Rao Road/Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,200 per sq.ft, the total guideline value amounts to Rs 82,00,000. The stamp duty at 7% would be Rs 5,74,000, and the registration fee at 2% would be Rs 1,64,000, bringing the total fees to Rs 7,38,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Rao Road/Street?

The Sub Registrar Office that covers Srinivasa Rao Road/Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mylapore. It serves as a benchmark for determining the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it helps in calculating the costs associated with property transactions. It ensures that the registration process is conducted transparently and fairly.

Frequently asked questions

What is the current guideline value of Srinivasa Rao Road/Street?

The current guideline value of Srinivasa Rao Road/Street is Rs 8,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 7,500 per sq.ft in 2012 to Rs 5,025 per sq.ft in 2017, then increased to Rs 7,500 per sq.ft in 2023 and currently stands at Rs 8,200 per sq.ft in 2024.

What is the land classification for Srinivasa Rao Road/Street?

Srinivasa Rao Road/Street is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees based on the guideline value?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 7,38,000.

Where is the Sub Registrar Office located for this street?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.