Guideline Value for SRIPURAM (VAL)

Sripuram (Val) guideline value

The current guideline value of Sripuram (Val) is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Konathi village and falls under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Sripuram (Val) has changed

The guideline value for Sripuram (Val) has seen several revisions over the years. The earliest recorded figure is from 2012 at Rs 800 per sq.ft, which remained unchanged until 2017 when it dropped to Rs 536 per sq.ft. Following this, the value increased significantly to Rs 800 per sq.ft in 2023 and further rose to Rs 880 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Konathi

In Konathi village, there are 131 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, indicating that the guideline value for Sripuram (Val) is above this median.

• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 880 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 880 per sq.ft (2024)
• Srm Nagar (Ward-20): Rs 1,320 per sq.ft (2024)
• Sundaram Nagar (Ward -1): Rs 660 per sq.ft (2024)
• Tagore Phase - 1,2 (Tai): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sripuram (Val)

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600, bringing the total cost for these fees to Rs 79,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sripuram (Val)?

The Sub Registrar Office that covers Sripuram (Val) 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 further assistance.

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

The guideline value is a critical factor when buying or selling property in Konathi. It serves as a benchmark for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the total costs involved in a property transaction.

When a property is registered, the guideline value is used to assess the applicable stamp duty and registration fees. This ensures that the fees are based on a standardized value, providing transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sripuram (Val)?

The current guideline value of Sripuram (Val) 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 for Sripuram (Val)?

Sripuram (Val) is classified as Residential Class I Type - II, which indicates its designation for residential use within the area.

What are the guideline values of other streets in Konathi?

Other streets in Konathi have varying guideline values, with rates ranging from Rs 440 to Rs 2,500 per sq.ft. The median value is Rs 770 per sq.ft, making the guideline value for Sripuram (Val) above this median.

Where is the Sub Registrar Office for Sripuram (Val) located?

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