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 property is located in Potheri village 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 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the following revision in 2017, where it decreased to Rs 536 per sq.ft. However, the 2023 revision marked a significant increase to Rs 800 per sq.ft, followed by the latest revision in 2024, which raised the value to Rs 880 per sq.ft.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 is an increase of 10%.

Guideline values in Potheri

Potheri village has a total of 129 streets listed under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median guideline value in this area is Rs 770 per sq.ft, making the 2024 figure for Sripuram (Val) above that median.

• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 1,100 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 1,100 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 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 fees to Rs 79,200. 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 Sripuram (Val)?

The Sub Registrar Office covering 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 more information.

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

The guideline value is a critical factor when buying or selling property in Potheri, as it determines the stamp duty and registration fees applicable during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps ensure that buyers and sellers comply with legal requirements during property transactions, providing a clear framework for the valuation of real estate in the area.

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 back to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the median guideline value in Potheri?

The median guideline value in Potheri is Rs 770 per sq.ft. The guideline value for Sripuram (Val) is above this median.

What are the stamp duty rates for property in Sripuram (Val)?

The stamp duty for property in Sripuram (Val) is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.