Guideline Value for SRINIVASAPURAM 4TH STREET

Srinivasapuram 4th Street guideline value

The current guideline value of Srinivasapuram 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Srinivasapuram 4th Street has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This figure decreased to Rs 2,010 per sq.ft in the 2017 revision, reflecting a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for the area is Rs 8,800 per sq.ft, placing the 2024 figure for Srinivasapuram 4th Street below this median.

• Srinivasapuram (Hut Area): 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Srinivasapuram 4th Street?

The Sub Registrar Office that covers Srinivasapuram 4th Street 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 details.

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

The guideline value is a crucial reference for property transactions in Mylapore. When buying or selling property, this value determines the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately for taxation purposes.

During the registration process, buyers and sellers must consider the guideline value to calculate applicable fees, such as stamp duty and registration fees. This ensures that the transaction complies with local regulations and reflects the property's value according to official records.

Frequently asked questions

What is the current guideline value of Srinivasapuram 4th Street?

The current guideline value of Srinivasapuram 4th Street 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 changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for Srinivasapuram 4th Street?

Srinivasapuram 4th Street is classified as Residential Class V Type - III.

Where can I find the Mylapore Sub Registrar Office?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

How is stamp duty calculated for properties in Srinivasapuram 4th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.