Guideline Value for SRINIVASAN STREET

Srinivasan Street guideline value

The current guideline value of Srinivasan Street in Perumalagaram village is Rs 3,190 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Srinivasan Street has changed

The guideline value for Srinivasan Street has seen several revisions over the years. In 2012, the value was Rs 2,900 per sq.ft, which decreased to Rs 1,943 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,900 per sq.ft in 2023, and then to Rs 3,190 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 figure to the current 2024 value, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median value among these streets is Rs 3,190 per sq.ft, which is equal to the current guideline value of Srinivasan Street.

• Subramani Street: Rs 3,190 per sq.ft (2024)
• Susila Street: Rs 3,190 per sq.ft (2024)
• Shyamala Street: Rs 3,190 per sq.ft (2024)
• Shri Shanmuga Avenue: Rs 2,420 per sq.ft (2024)
• Seelapathy Baskaran Street: Rs 3,190 per sq.ft (2024)
• Sathya Narayanan Street: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. 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 Srinivasan Street?

Srinivasan Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value helps in calculating the taxes owed by the seller and the fees the buyer must pay. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Srinivasan Street?

The current guideline value of Srinivasan Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What is the land classification of Srinivasan Street?

Srinivasan Street is classified as Residential Class V Type - I under the Chennai South Joint II SRO.

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

The Sub Registrar Office covering Srinivasan Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the stamp duty calculated for property in Srinivasan Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 2,23,300 at a rate of 7%.