Guideline Value for Sreepuram 3rd Cross Street

Sreepuram 3rd Cross Street guideline value

The current guideline value of Sreepuram 3rd Cross Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Sreepuram 3rd Cross Street has changed

Over the years, the guideline value of Sreepuram 3rd Cross Street has seen significant changes. The 2017 revision set the value at Rs 1,876 per sq.ft. This increased to Rs 2,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 3,080 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, placing Sreepuram 3rd Cross Street's 2024 figure above this median.

• SreeKrishna 2st Street: Rs 1,320 per sq.ft (2024)
• SreeKrishna 1st Street: Rs 1,320 per sq.ft (2024)
• South Mada Street: Rs 2,200 per sq.ft (2024)
• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Sri Balaji Nagar: Rs 1,980 per sq.ft (2024)
• Sivaraj Street Extn 3rd Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Sreepuram 3rd Cross Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, totaling Rs 2,77,200. 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 more details.

Which Sub Registrar Office covers Sreepuram 3rd Cross Street?

The Sreepuram 3rd Cross Street is covered by the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the registration office will use the guideline value to calculate the applicable charges. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sreepuram 3rd Cross Street?

The current guideline value of Sreepuram 3rd Cross Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current rate. The value rose from Rs 1,876 per sq.ft in 2017 to Rs 2,800 per sq.ft in 2023, and then to Rs 3,080 per sq.ft in 2024.

What is the registration office for Sreepuram 3rd Cross Street?

The registration office covering Sreepuram 3rd Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is stamp duty calculated for properties in Sreepuram 3rd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 30,80,000, the stamp duty would be Rs 2,15,600 at a rate of 7%.

What are the other streets in Thiruneermalai with guideline values?

Other streets in Thiruneermalai include SreeKrishna 2st Street and SreeKrishna 1st Street, both at Rs 1,320 per sq.ft, South Mada Street and South Kulakarai Street at Rs 2,200 per sq.ft, Sri Balaji Nagar at Rs 1,980 per sq.ft, and Sivaraj Street Extn 3rd Street at Rs 2,420 per sq.ft.