Guideline Value for SRIPURAM

Sripuram guideline value

The current guideline value of Sripuram, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - III.

How the guideline value of Sripuram has changed

Over the years, the guideline value of Sripuram has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the 2023 revision brought the value back up to Rs 2,000 per sq.ft, and the most recent 2024 revision has increased it to Rs 2,200 per sq.ft. The register has no figures for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Sripuram's 2024 figure below that median.

• Sri Padmavathy Avenue: Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,800 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 2,800 per sq.ft (2024)
• Sri Sai Nagar: Rs 5,500 per sq.ft (2024)
• Sri Sai Nagar 10th Cross Street: Rs 3,900 per sq.ft (2024)
• Sri Sai Nagar 11th Cross Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sripuram

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that 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?

The Sub Registrar Office that covers Sripuram is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that all transactions are recorded at a fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sripuram?

The current guideline value of Sripuram is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the median guideline value in Okkiyamthuraipakkam?

The median guideline value in Okkiyamthuraipakkam is Rs 3,300 per sq.ft, with Sripuram's 2024 figure being below this median.

What are the registration fees for property in Sripuram?

The registration fees for property in Sripuram include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sripuram?

The Sub Registrar Office for Sripuram is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.