Guideline Value for SRIPERUMPUDUR MAIN SALAI-I (INDHIRA GANDHI SILAI TO SAMPANDANAR STREET PART)

Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part) guideline value

The current guideline value for Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part) is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is located in Vengathur village and falls under the Manavalanagar SRO, classified as Commercial Class I Type - I.

How the guideline value of Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part) has changed

Over the years, the guideline value for Sriperumpudur Main Salai-I has seen several revisions. The 2007 revision recorded a value of Rs 250 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a 700% rise. However, the value dropped to Rs 1,340 per sq.ft in the 2017 revision, a decrease of 33%. From 2017 to 2023, it rose again to Rs 2,000 per sq.ft, reflecting a 49% increase. The guideline value remained unchanged at Rs 2,000 per sq.ft from the 2023 revision to the 2024 revision.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 700%.

Guideline values in Vengathur

In Vengathur village, there are a total of 186 streets under the Manavalanagar SRO, with guideline values ranging from Rs 500 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, placing the 2024 guideline value for Sriperumpudur Main Salai-I above this median.

• Sriperumpudur Main Salai-II (Sampandanar Street Part To Sri Ganesh Mahal Kalyana Mandapam): Rs 2,000 per sq.ft (2024)
• Subramania Siva Street: Rs 800 per sq.ft (2024)
• Sozhan Street: Rs 1,300 per sq.ft (2024)
• Sundaram Street: Rs 1,300 per sq.ft (2024)
• Siru Thondan Street: Rs 1,300 per sq.ft (2024)
• Thangadurai Street: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total to Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part)?

The Sub Registrar Office covering Sriperumpudur Main Salai-I is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial aspect when registering property in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps in estimating the total cost involved in property transactions. It is essential for both parties to consider the guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the sale process.

Frequently asked questions

What is the current guideline value of Sriperumpudur Main Salai-I?

The current guideline value of Sriperumpudur Main Salai-I (Indhira Gandhi Silai To Sampandanar Street Part) is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 250 per sq.ft in 2007 to Rs 2,000 per sq.ft in 2012. It saw a decrease to Rs 1,340 per sq.ft in 2017, followed by an increase back to Rs 2,000 per sq.ft in 2023 and 2024.

What is the median guideline value in Vengathur?

The median guideline value in Vengathur is Rs 1,000 per sq.ft, with Sriperumpudur Main Salai-I's 2024 value being above this median at Rs 2,000 per sq.ft.

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

For a property valued at Rs 20,00,000, the stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, totaling Rs 1,80,000. These fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Sriperumpudur Main Salai-I?

The Manavalanagar Sub Registrar Office handles registrations for Sriperumpudur Main Salai-I. It is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.