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 area is located in Vallancheri village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Sripuram (Val) has changed

The guideline value of Sripuram (Val) has seen several revisions over the years. In 2012, the guideline value was Rs 800 per sq.ft, which later decreased to Rs 536 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 800 per sq.ft, and the current 2024 revision has increased it to Rs 880 per sq.ft, marking a 10% rise from 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Looking at the changes in detail, the revision from 2017 to 2023 saw a significant increase of 49%, while the drop from 2012 to 2017 was 33%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Vallancheri

In Vallancheri, there are 134 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 825 per sq.ft, placing Sripuram (Val) above this median at Rs 880 per sq.ft.

• Sri Ram Nagar (Val): Rs 880 per sq.ft (2024)
• Sri Sai Avenue -III: Rs 660 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)
• Sree Seshathri Hill View Phase - II: Rs 1,650 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 together 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 precise calculations.

Which Sub Registrar Office covers Sripuram (Val)?

Sripuram (Val) falls under 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 Vallancheri

The guideline value is a crucial factor when registering property transactions in Vallancheri. It serves as a benchmark for determining the stamp duty and registration fees that are payable during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both parties involved. This helps maintain transparency and compliance with local regulations during property transactions.

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 land classification for Sripuram (Val)?

Sripuram (Val) is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

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.