Guideline Value for SRINIVASAN STREET

Srinivasan Street guideline value

The current guideline value of Srinivasan Street in Vadaagaram village, under the Kodambakkam SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class IV Type - I land classification.

How the guideline value of Srinivasan Street has changed

The guideline value for Srinivasan Street has seen several revisions over the years. In 2002, the guideline value was Rs 515 per sq.ft, which increased to Rs 570 per sq.ft in 2003, marking an 11% rise. The value then jumped significantly to Rs 750 per sq.ft in 2007, reflecting a 32% increase. Following this, in 2012, the value saw a substantial rise to Rs 4,000 per sq.ft, which was a 433% increase. However, this was followed by a decrease to Rs 2,680 per sq.ft in 2017, representing a 33% drop. The value then increased to Rs 4,000 per sq.ft in 2023, and finally, it rose to Rs 4,400 per sq.ft in 2024, marking a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 754%. There are no figures available for the revisions in the years not listed in the register.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Srinivasan Street is below this median.

• Thanthoni Amman Koil Street: Rs 4,400 per sq.ft (2024)
• Thiruvalluvarpuram 1st Street: Rs 7,100 per sq.ft (2024)
• Thiruvalluvarpuram 2nd Street: Rs 7,100 per sq.ft (2024)
• Vada Agaram 1st Street: Rs 12,000 per sq.ft (2024)
• Vada Agaram Road: Rs 7,700 per sq.ft (2024)
• Vada Agaram Street: Rs 6,600 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 Street?

The Sub Registrar Office that covers Srinivasan Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Vadaagaram. It serves as the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as determined by the government.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Srinivasan Street?

The current guideline value of Srinivasan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 515 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 754% over the years.

What is the land classification of Srinivasan Street?

Srinivasan Street is classified as Residential Class IV Type - I, which indicates its designation for residential use within the area.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot at the current rate would incur a total of Rs 3,96,000 in fees.

Which office handles property registrations for Srinivasan Street?

The Kodambakkam Sub Registrar Office handles property registrations for Srinivasan Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.