Guideline Value for SRINIVASA STREET

Srinivasa Street guideline value

The current guideline value of Srinivasa Street in Zaminpallavaram village is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class II Type - I.

How the guideline value of Srinivasa Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 2,750 per sq.ft, marking a 10% rise from the previous year. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

It is important to note that for the years 2002, 2003, 2007, and 2017, the register has no figure for Srinivasa Street. Therefore, only the revisions from 2012, 2023, and 2024 are applicable for understanding the changes in the guideline value.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that Srinivasa Street's 2024 figure is below this median.

• Srinivasapuram: Rs 3,300 per sq.ft (2024)
• Srinivasa Nayakkar Street: Rs 2,750 per sq.ft (2024)
• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)
• Srinivasalu Naidu Street: Rs 3,850 per sq.ft (2024)
• Srinivasalu Cross Street: Rs 2,750 per sq.ft (2024)
• Srinivasa Cross Street: Rs 2,750 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 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable on the transaction.

Frequently asked questions

What is the current guideline value of Srinivasa Street?

The current guideline value of Srinivasa Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased by 10% to Rs 2,750 per sq.ft in the 2024 revision. The 2023 revision maintained the value at Rs 2,500 per sq.ft.

What is the land classification of Srinivasa Street?

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

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

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties on Srinivasa Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,92,500.