Guideline Value for SRINIVASAN GARDEN

Srinivasan Garden guideline value

The current guideline value of Srinivasan Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Srinivasan Garden has changed

The guideline value for Srinivasan Garden has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase in the following revisions, rising to Rs 1,500 per sq.ft in 2023 and further to Rs 1,700 per sq.ft in 2024, reflecting a 49% increase from 2017 to 2023 and a 13% increase from 2023 to 2024.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median guideline value is Rs 1,700 per sq.ft, which is the same as the current value for Srinivasan Garden.

• Sri Kumaran Avenue: Rs 1,700 per sq.ft (2024)
• Sri Ganapathi Nagar Colony: Rs 3,300 per sq.ft (2024)
• S.R.P.Nagar: Rs 1,700 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,100 per sq.ft (2024)
• Sri Alamelumangapuram: Rs 1,700 per sq.ft (2024)
• Subash Chandra Bose Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan Garden?

The Sub Registrar Office that covers Srinivasan Garden is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chemmancheri. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded accurately and legally.

When a property is sold, the guideline value helps in assessing the appropriate taxes that need to be paid. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasan Garden?

The current guideline value of Srinivasan Garden is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increasing to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Chemmancheri?

The median guideline value in Chemmancheri is Rs 1,700 per sq.ft, which is the same as the current value for Srinivasan Garden.

What are the stamp duty and registration fees for property in Srinivasan Garden?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for Srinivasan Garden?

The Neelankarai Sub Registrar Office handles the registration for Srinivasan Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.