Guideline Value for SRIPURAM (VAL)

Sripuram (Val) guideline value

The current guideline value of Sripuram (Val) is Rs 881 per sq.ft, effective from 1 July 2024. This area is located in Thailavaram village and falls under the Chengleput Joint II SRO. The land classification for this area is 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. In 2012, the value was set at Rs 800 per sq.ft. However, it decreased to Rs 536 per sq.ft in the 2017 revision. The value then increased significantly to Rs 800 per sq.ft in 2023, followed by a further rise to Rs 881 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2024, the overall change in the guideline value is an increase of 10%. The most notable change occurred between 2017 and 2023, where the value increased by 49%. The fluctuations in the guideline value reflect the revisions made by the Registration Department.

Guideline values in Thailavaram

In Thailavaram, there are 132 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Sripuram (Val) above this median.

• Sri Ram Nagar (Val): Rs 881 per sq.ft (2024)
• Sri Kamatchi Nagar Extension (Tai): Rs 881 per sq.ft (2024)
• Sri Kamatchi Amman Nagar (Tai): Rs 881 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 881 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 881 per sq.ft, the total guideline value would be Rs 8,81,000. The stamp duty at 7% would amount to Rs 61,670, while the registration fee at 2% would be Rs 17,620. Together, the total cost for stamp duty and registration would be Rs 79,290. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more detailed calculations.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thailavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value is used to assess the stamp duty, which is charged at a percentage of either the guideline value or the sale price, whichever is higher. This ensures that the registration process is standardized and transparent, providing clarity for both buyers and sellers.

Frequently asked questions

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

The current guideline value of Sripuram (Val) is Rs 881 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 881 per sq.ft in 2024.

What is the land classification for Sripuram (Val)?

The land classification for Sripuram (Val) is Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property in Sripuram (Val)?

For a property valued at Rs 8,81,000, the stamp duty would be Rs 61,670, and the registration fee would be Rs 17,620, totaling Rs 79,290.

Which office manages the registration for Sripuram (Val)?

The Chengleput Joint II Sub Registrar Office manages the registration for Sripuram (Val), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.