Guideline Value for SRINIVASAPURAM

Srinivasapuram guideline value

The current guideline value of Srinivasapuram, located in Vannipakkam village under the Ponneri SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Srinivasapuram has changed

Over the years, the guideline value for Srinivasapuram has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft. Following this, the 2023 revision returned the value to Rs 200 per sq.ft, and the 2024 revision has maintained this figure. Notably, the register has no figures for the years 2002, 2003, and 2007.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. However, from 2012 to 2017, the value decreased by 33%. Overall, when comparing the 2012 revision to the current 2024 revision, there has been no change in the guideline value.

Guideline values in Vannipakkam

In Vannipakkam, there are seven streets under the Ponneri SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 250 per sq.ft. The median value for these streets is Rs 200 per sq.ft, which is also the guideline value for Srinivasapuram.

• Sri Mugambigai Nagar: Rs 200 per sq.ft (2024)
• Sri Bhavani Nagar: Rs 200 per sq.ft (2024)
• M.N.Garden Phase II: Rs 250 per sq.ft (2024)
• M.N.Garden Phase I: Rs 250 per sq.ft (2024)
• M.G.M. Nagar: Rs 200 per sq.ft (2024)
• Mallikai Nagar: Rs 200 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, making the total cost Rs 18,000. 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 details.

Which Sub Registrar Office covers Srinivasapuram?

The Sub Registrar Office that covers Srinivasapuram is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vannipakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value, as it can influence the overall transaction costs. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential issues during registration.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions being Rs 200 per sq.ft in 2023 and 2024, and a decrease to Rs 134 per sq.ft in 2017 from Rs 200 per sq.ft in 2012.

What is the land classification for Srinivasapuram?

Srinivasapuram is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Ponneri Sub Registrar Office?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Srinivasapuram?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,00,000, the stamp duty at 7% would be Rs 14,000.