Guideline Value for SRINIVASAPURAM 3RD STREET

Srinivasapuram 3rd Street guideline value

The current guideline value of Srinivasapuram 3rd Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasapuram 3rd Street has changed

The guideline value for Srinivasapuram 3rd Street has undergone several revisions over the years. The earliest recorded revision was in 2002, where the guideline value was Rs 885 per sq.ft. This figure increased to Rs 979 per sq.ft in 2003, marking an 11% rise. By 2007, the value had significantly increased to Rs 1,300 per sq.ft, reflecting a 33% increase from the previous revision. In 2012, the guideline value remained at Rs 9,000 per sq.ft, showing no figure for this street in the register for that year.

Moving forward, in 2017, the guideline value rose to Rs 6,030 per sq.ft, which was a 49% increase from the 2012 figure. The next revision in 2023 saw the value increase to Rs 9,000 per sq.ft. Finally, the latest revision in 2024 set the guideline value at Rs 9,900 per sq.ft, representing a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1019%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, which is equal to the 2024 figure for Srinivasapuram 3rd Street.

• Srinivasapuram 2nd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram Main Road: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 1st Street: Rs 9,900 per sq.ft (2024)
• Sriram Nagar 1st Cross Street: Rs 9,900 per sq.ft (2024)
• Sriram Nagar Ist Street: Rs 9,900 per sq.ft (2024)
• Sri Ram Nagar Salai: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for these fees to Rs 8,91,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasapuram 3rd Street?

The Sub Registrar Office that covers Srinivasapuram 3rd Street is the Chennai South Joint I 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 details.

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

The guideline value plays a crucial role in the property registration process in Thiruvanmiyur. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the fees are calculated based on a standardized value, which is essential for transparency in property transactions.

During the registration process, the buyer must pay the stamp duty and registration fees based on the higher of the guideline value or the sale price. This practice helps maintain consistency in property valuations and ensures that all transactions adhere to the established guidelines.

Frequently asked questions

What is the current guideline value of Srinivasapuram 3rd Street?

The current guideline value of Srinivasapuram 3rd Street is Rs 9,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 885 per sq.ft in 2002 to Rs 9,900 per sq.ft in 2024, representing an overall increase of 1019% over the years.

What are the stamp duty and registration fees for property in Srinivasapuram 3rd Street?

For a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 and the registration fee would be Rs 1,98,000, totaling Rs 8,91,000 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Srinivasapuram 3rd Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Srinivasapuram 3rd Street?

The land classification for Srinivasapuram 3rd Street is Residential Class I Type - I.