Guideline Value for SRINIVASAPURAM EXTENSION

Srinivasapuram Extension guideline value

The current guideline value of Srinivasapuram Extension, located in Anakaputhur village under the Pammal SRO, is Rs 2,310 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - III.

How the guideline value of Srinivasapuram Extension has changed

The guideline value for Srinivasapuram Extension has seen several revisions over the years. The 2017 revision set the value at Rs 1,407 per sq.ft, which increased to Rs 2,100 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the guideline value to Rs 2,310 per sq.ft, marking a 10% increase from the previous year. The overall increase from 2017 to 2024 stands at 64%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was significant at 49%, reflecting a substantial rise in the guideline value over a relatively short period.

Guideline values in Anakaputhur

In Anakaputhur, there are 501 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 4,640 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing the guideline value of Srinivasapuram Extension above this median.

• Srinivasapuram 4th Street: Rs 1,760 per sq.ft (2024)
• Srinivasapuram 3rd Street: Rs 1,760 per sq.ft (2024)
• Srinivasapuram Main Road: Rs 1,760 per sq.ft (2024)
• Srinivasapuram 3rd Cross Street: Rs 1,760 per sq.ft (2024)
• Srinivasapuram 2nd Street: Rs 1,760 per sq.ft (2024)
• Srinivasapuram 2nd Cross Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,310 per sq.ft, the total guideline value amounts to Rs 23,10,000. The stamp duty at 7% would be Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, bringing the total costs together to Rs 2,07,900. It is important to note that the duty is charged on whichever is higher: the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasapuram Extension?

The Sub Registrar Office that covers Srinivasapuram Extension is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Anakaputhur. When buying or selling property, this value is crucial as it determines the stamp duty and registration fees payable at the time of registration.

It is essential to ensure that the sale price is not lower than the guideline value, as the duty is charged on the higher of the two. This regulation helps maintain transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Srinivasapuram Extension?

The current guideline value of Srinivasapuram Extension is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,407 per sq.ft in 2017 to Rs 2,310 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 23,10,000, the stamp duty would be Rs 1,61,700 and the registration fee would be Rs 46,200, totaling Rs 2,07,900.

Which Sub Registrar Office handles registrations for Srinivasapuram Extension?

The Pammal Sub Registrar Office handles registrations for Srinivasapuram Extension, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is crucial that the sale price is not lower than the guideline value to ensure proper tax calculations.