Guideline Value for SRINIVASA STREET

Srinivasa Street guideline value

The current guideline value of Srinivasa Street in Nemilicherry village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Srinivasa Street has changed

Over the years, the guideline value for Srinivasa Street has seen several revisions. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023, reflecting a change of +10%. The previous revisions saw the guideline value at Rs 1,474 per sq.ft in 2017, which was a significant increase of +36% from the Rs 1,100 per sq.ft in 2012. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

In the 2012 revision, the guideline value was Rs 2,200 per sq.ft, which marked a decrease of -33% from the 2017 value. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 2,200 per sq.ft.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 2,160 per sq.ft, placing Srinivasa Street's 2024 value above this median.

• Srinagar Colony: Rs 2,160 per sq.ft (2024)
• Sri Devi Amman Street: Rs 2,200 per sq.ft (2024)
• SSP Nagar: Rs 2,160 per sq.ft (2024)
• Subash Nagar Main Road: Rs 2,200 per sq.ft (2024)
• Subash Nagar, Visweswaran Street: Rs 2,200 per sq.ft (2024)
• Subbulakshmi Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty is calculated at 7%, amounting to Rs 1,54,000, while the registration fee at 2% comes to Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Street?

The Sub Registrar Office that covers Srinivasa Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Nemilicherry. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, it is essential to be aware of the guideline value as it can impact the overall cost of the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Srinivasa Street?

The current guideline value of Srinivasa Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Srinivasa Street?

Srinivasa Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Srinivasa Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.