Guideline Value for SRINIVASAPURAM (HUT AREA)

Srinivasapuram (Hut Area) guideline value

The current guideline value of Srinivasapuram (Hut Area) is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Mylapore village under the Mylapore SRO, classified as Residential Class V Type - III.

How the guideline value of Srinivasapuram (Hut Area) has changed

The guideline value for Srinivasapuram (Hut Area) has undergone several revisions since 2002. The 2002 revision set the value at Rs 590 per sq.ft, which increased to Rs 656 per sq.ft in 2003, marking an increase of 11%. In 2007, the value saw a significant rise to Rs 900 per sq.ft, a change of 37%. The 2012 revision maintained the value at Rs 3,000 per sq.ft, and this figure remained unchanged until the 2023 revision, which again recorded Rs 3,000 per sq.ft.

The most recent 2024 revision increased the guideline value to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 459%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Srinivasapuram (Hut Area) is below this median.

• Srinivasapuram 4th Street: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 3rd Street: Rs 3,300 per sq.ft (2024)
• Srinivasa Rao Road/Street: Rs 8,200 per sq.ft (2024)
• Srinivasapuram 2nd Street: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram (Hut Area)

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasapuram (Hut Area)?

The Sub Registrar Office covering Srinivasapuram (Hut Area) is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is an important factor during property registration in Mylapore. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value affects the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that all transactions are transparent and adhere to the regulations set by the registration department.

Frequently asked questions

What is the current guideline value of Srinivasapuram (Hut Area)?

The current guideline value of Srinivasapuram (Hut Area) is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen multiple revisions, starting from Rs 590 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 459% over the years.

What are the registration fees for property in Srinivasapuram (Hut Area)?

For a property valued at Rs 33,00,000, the stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations in Srinivasapuram (Hut Area)?

The Mylapore Sub Registrar Office handles registrations for Srinivasapuram (Hut Area), located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

Where can I find more information on stamp duty and registration fees?

You can find more information and calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.