Guideline Value for SRINIVASAN STREET

Srinivasan Street guideline value

The current guideline value of Srinivasan Street in Mambalam village is Rs 7,700 per sq.ft, effective from 1 July 2024. This street falls under the Thiyagaraya nagar SRO and is classified as Residential Class I Type - II.

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 value was Rs 630 per sq.ft, which increased significantly to Rs 699 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 3,895 per sq.ft in 2007, a substantial increase of 457%. In 2012, the value was recorded at Rs 7,000 per sq.ft, reflecting an 80% increase from the previous revision. However, this figure dropped by 33% to Rs 4,690 per sq.ft in 2017. The value then rose to Rs 7,000 per sq.ft in 2023, before reaching the current figure of Rs 7,700 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1122%. The register has no figure for this street for the years not mentioned above.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO, with guideline values for 2024 ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Srinivasan Street's 2024 figure above this median.

• Srinivasan Iyengar Street: Rs 6,600 per sq.ft (2024)
• Srinivasan Iyengar 2 Nd Street: Rs 4,400 per sq.ft (2024)
• Srinivasan Iyengar 1st Street: Rs 4,400 per sq.ft (2024)
• Srirampet: Rs 7,700 per sq.ft (2024)
• Station Road: Rs 12,100 per sq.ft (2024)
• Station View Road: Rs 8,300 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 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total cost for these fees Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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 Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial component in the property registration process in Mambalam. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated when buying or selling property.

When a property transaction occurs, the guideline value helps ensure that the property is registered at a value that reflects its worth according to government standards. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Srinivasan Street?

The current guideline value of Srinivasan Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 630 per sq.ft in 2002 and reaching Rs 7,700 per sq.ft in 2024, which is an overall increase of 1122%.

What are the stamp duty and registration fees for properties on Srinivasan Street?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers Srinivasan Street?

The Thiyagaraya nagar Sub Registrar Office covers Srinivasan Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification of Srinivasan Street?

Srinivasan Street is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.