Guideline Value for SRIRAMPET

Srirampet guideline value

The current guideline value of Srirampet is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Srirampet has changed

The guideline value for Srirampet has undergone several revisions over the years. In 2002, the value was Rs 904 per sq.ft, which increased to Rs 1,003 per sq.ft in 2003, marking an 11% rise. By 2007, the value saw a significant increase to Rs 2,000 per sq.ft, reflecting a 99% change. The guideline value then jumped to Rs 7,000 per sq.ft in 2012, representing a 250% increase from the previous revision. However, it decreased by 33% to Rs 4,690 per sq.ft in 2017.

In 2023, the value rose to Rs 7,000 per sq.ft, and the most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, which is a 10% increase. Overall, from 2002 to 2024, the guideline value has increased by 752%. There are no figures for the revisions in years other than those specified.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that have a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median of Rs 6,600 per sq.ft. The guideline value for Srirampet is above this median.

• Srinivasan Street: Rs 7,700 per sq.ft (2024)
• Srinivasan Iyengar Street: Rs 6,600 per sq.ft (2024)
• Srinivasan Iyengar 2 Nd Street: Rs 4,400 per sq.ft (2024)
• Srinivasan Iyengar 1st Street: Rs 4,400 per sq.ft (2024)
• Station Road: Rs 12,100 per sq.ft (2024)
• Station View Road: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srirampet

For a 1,000 sq.ft plot at the current rate of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total Rs 6,93,000. Please note that the 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 details.

Which Sub Registrar Office covers Srirampet?

The Sub Registrar Office that covers Srirampet is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during property registration in Mambalam. It is the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling a property, the guideline value is used to determine the applicable taxes. Buyers should be aware that the stamp duty is charged on either the guideline value or the sale price, depending on which is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Srirampet?

The current guideline value of Srirampet is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 904 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 752% over the years.

What are the other streets in Mambalam with their guideline values?

Other streets in Mambalam include Srinivasan Street at Rs 7,700 per sq.ft, Srinivasan Iyengar Street at Rs 6,600 per sq.ft, and Station Road at Rs 12,100 per sq.ft, among others.

What are the stamp duty and registration fees for property in Srirampet?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which Sub Registrar Office covers Srirampet?

The Thiyagaraya nagar Sub Registrar Office covers Srirampet, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.