Guideline Value for SRINIVASAPURAM MAIN ROAD

Srinivasapuram Main Road guideline value

The current guideline value of Srinivasapuram Main Road is Rs 9,900 per sq.ft, effective from 1 July 2024. This road is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO, classified as Residential Class I Type - I.

How the guideline value of Srinivasapuram Main Road has changed

The guideline value for Srinivasapuram Main Road has seen several revisions over the years. In 2012, the guideline value was set at Rs 9,000 per sq.ft. This figure changed to Rs 6,030 per sq.ft in 2017, marking a decrease of 33%. However, the value rose significantly to Rs 9,000 per sq.ft in 2023, followed by a further increase to Rs 9,900 per sq.ft in 2024, which represents a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. Notably, the increase from 2017 to 2023 was substantial at 49%, reflecting a significant adjustment in the property value within this period.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value is Rs 9,900 per sq.ft, which aligns with the current guideline value of Srinivasapuram Main Road.

• Srinivasapuram 3rd Street: Rs 9,900 per sq.ft (2024)
• Srinivasapuram 2nd Street: 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 Main Road

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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasapuram Main Road?

The Sub Registrar Office that covers Srinivasapuram Main Road 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 information.

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

The guideline value is a critical factor when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations and accurate financial planning.

When a property is sold or purchased, the guideline value is used to calculate the applicable taxes. This ensures that the transaction reflects the current market conditions as assessed by the local authorities, providing a standardized approach to property valuation in the area.

Frequently asked questions

What is the current guideline value of Srinivasapuram Main Road?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 9,000 per sq.ft in 2012 to Rs 6,030 per sq.ft in 2017, then back to Rs 9,000 per sq.ft in 2023, and finally to Rs 9,900 per sq.ft in 2024.

What is the classification of land on Srinivasapuram Main Road?

Srinivasapuram Main Road is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator.

Which office handles property registration for this area?

The Chennai South Joint I Sub Registrar Office handles property registration for Srinivasapuram Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.