Guideline Value for SRISTI'S MILLENNIUM

Sristi's Millennium guideline value

The current guideline value of Sristi's Millennium in Perumbakkam village is Rs 2,900 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Class III Type - III.

How the guideline value of Sristi's Millennium has changed

Since the 2017 revision, the guideline value has seen significant increases. The 2017 revision set the value at Rs 1,800 per sq.ft, which then rose to Rs 2,690 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 has further increased the value to Rs 2,900 per sq.ft, reflecting an 8% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a total increase of 61%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,725 per sq.ft, placing Sristi's Millennium above this median.

• Sristi Enclave: Rs 2,900 per sq.ft (2024)
• Sri Varadhapuram 2nd Main Road 1st-6th Cross Street: Rs 2,725 per sq.ft (2024)
• Sri Varadhauram 1st-2nd Main Road: Rs 2,725 per sq.ft (2024)
• Sri Sastha Nagar: Rs 3,300 per sq.ft (2024)
• Sri Sankara Hospital: Rs 850 per sq.ft (2024)
• Sri Vineswara Nagar Phase- I: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sristi's Millennium

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000. The stamp duty at 7% would amount to Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, totaling Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sristi's Millennium?

The Sub Registrar Office that covers Sristi's Millennium is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value is an important factor in property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly affects the stamp duty and registration fees payable during the transaction.

When registering a property, the guideline value ensures that the government receives appropriate revenue through stamp duty and registration fees. Therefore, it is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sristi's Millennium?

The current guideline value of Sristi's Millennium is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,800 per sq.ft to Rs 2,900 per sq.ft in 2024, marking a total increase of 61% over these years.

What is the classification of Sristi's Millennium?

Sristi's Millennium is classified as Residential Class III Type - III under the Selaiyur SRO.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sristi's Millennium?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.