Guideline Value for SRINIVASAPURAM

Srinivasapuram guideline value

The current guideline value of Srinivasapuram, located in Sengundram - 1 village under the Chengleput Joint II SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Srinivasapuram has changed

The guideline value for Srinivasapuram has seen several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 536 per sq.ft, marking a drop of 33%. Following this, the value increased significantly to Rs 800 per sq.ft in 2023, and then to Rs 880 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, the guideline value rose by 49%, and overall, from 2012 to 2024, there has been a 10% increase. This consistent change in the guideline value indicates the evolving landscape of property valuation in the area.

Guideline values in Sengundram - 1

Sengundram - 1 village has a range of guideline values across its 126 streets under the Chengleput Joint II SRO, with values ranging from Rs 660 to Rs 3,285 per sq.ft. The median value is Rs 880 per sq.ft, which aligns with the current guideline value for Srinivasapuram.

• Sri Ponni Nagar: Rs 1,971 per sq.ft (2024)
• Sri Nagar Part - II (Chen): Rs 1,100 per sq.ft (2024)
• Sriram Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Lakshmi Nagar (Chen): Rs 880 per sq.ft (2024)
• Sri Sai Srinivasa Nagar (Chen): Rs 1,100 per sq.ft (2024)
• Sri Sakthi Nagar (Chen): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total cost for these charges to Rs 79,200. 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?

The Sub Registrar Office covering Srinivasapuram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Sengundram - 1

The guideline value is a crucial factor during the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps establish a fair value for taxation purposes. Buyers and sellers should be aware of this value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification of Srinivasapuram?

Srinivasapuram is classified as Residential Class I Type - I.

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

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600 and the registration fee is Rs 17,600, totaling Rs 79,200.

Where is the Sub Registrar Office for Srinivasapuram located?

The Sub Registrar Office for Srinivasapuram is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.