Guideline Value for SRINIVASA ROAD

Srinivasa Road guideline value

The current guideline value of Srinivasa Road is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village under the Thiyagaraya nagar SRO, classified as Mixed Special Type - II.

How the guideline value of Srinivasa Road has changed

Over the years, the guideline value of Srinivasa Road has undergone several revisions. Starting from Rs 3,000 per sq.ft in 2007, it increased significantly to Rs 12,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 8,040 per sq.ft in 2017, reflecting a 33% drop. The value then saw a substantial increase to Rs 12,000 per sq.ft in 2023, followed by a further rise to Rs 13,200 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, representing an overall increase of 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with guideline values 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 Srinivasa Road's 2024 figure above the median.

• Srinivasa Reddy Street: Rs 6,600 per sq.ft (2024)
• Srinivasa Puram: Rs 5,500 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 Road

For a 1,000 sq.ft plot at the current rate of Rs 13,200 per sq.ft, the guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Srinivasa Road?

The Sub Registrar Office that covers Srinivasa Road 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 serves as a benchmark for property transactions in Tnagar, ensuring that the property is registered at a fair value. This value is crucial during the registration process, as it determines the stamp duty and registration fees payable.

When buying or selling property, the guideline value helps to establish a transparent pricing mechanism, which is essential for both buyers and sellers. It ensures that the transaction is recorded accurately, reflecting the official value set by the Registration Department.

Frequently asked questions

What is the current guideline value of Srinivasa Road?

The current guideline value of Srinivasa Road is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, marking an overall increase of 340% over the years.

What are the other streets in Tnagar with their guideline values?

Other streets in Tnagar include Srinivasa Reddy Street at Rs 6,600 per sq.ft, Srinivasa Puram at Rs 5,500 per sq.ft, and South Boag Road at Rs 14,300 per sq.ft, among others.

What is the stamp duty rate for properties in Srinivasa Road?

The stamp duty rate for properties in Srinivasa Road is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Srinivasa Road located?

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