Guideline Value for Sri Srinivasa Modern Town

Sri Srinivasa Modern Town guideline value

The current guideline value of Sri Srinivasa Modern Town in Vadaperumbakkam village is Rs 1,006 per sq.ft, effective from 1 July 2024. This property falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Srinivasa Modern Town has changed

The guideline value for Sri Srinivasa Modern Town has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. The value rose significantly to Rs 500 per sq.ft in 2023, and the current revision for 2024 has increased it to Rs 1,006 per sq.ft, reflecting a change of +101% from 2023 to 2024 and an overall increase of +403% from 2007 to 2024.

There are no figures available for the revisions in 2002 and 2003 for this street. The 2012 to 2017 revision saw a decrease of -33%, while the increase from 2017 to 2023 was +49% and from 2007 to 2012 was +150%.

Guideline values in Vadaperumbakkam

In Vadaperumbakkam, there are 77 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 1,300 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Sri Srinivasa Modern Town is above this median.

• Sri Suyambulingam Nagar Annex-II: Rs 1,006 per sq.ft (2024)
• Sri Suyambulingam Nagar Annex IV: Rs 1,006 per sq.ft (2024)
• Sri Vetri Nagar Extention: Rs 1,004 per sq.ft (2024)
• Sri Vetri Nagar Extn.: Rs 1,004 per sq.ft (2024)
• Sri Sabhari Nagar: Rs 1,004 per sq.ft (2024)
• Sri Perumal Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Srinivasa Modern Town

For a 1,000 sq.ft plot at the current guideline value of Rs 1,006 per sq.ft, the total guideline value would be Rs 10,06,000. The stamp duty at 7% would amount to Rs 70,420, and the registration fee at 2% would be Rs 20,120, bringing the total fees together to Rs 90,540. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Srinivasa Modern Town?

Sri Srinivasa Modern Town is covered by the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadaperumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Modern Town?

The current guideline value of Sri Srinivasa Modern Town is Rs 1,006 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 200 per sq.ft in 2007 to Rs 1,006 per sq.ft in 2024, reflecting an overall increase of +403% over this period.

What are the stamp duty rates for property transactions in this area?

The stamp duty rate for property transactions in Sri Srinivasa Modern Town is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Sri Srinivasa Modern Town?

The Redhills Sub Registrar Office handles property registrations for Sri Srinivasa Modern Town, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value for streets in Vadaperumbakkam?

The median guideline value for streets in Vadaperumbakkam is Rs 1,003 per sq.ft, with Sri Srinivasa Modern Town's value being above this median.