Guideline Value for SriSarpujandar Street

SriSarpujandar Street guideline value

The current guideline value of SriSarpujandar Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of SriSarpujandar Street has changed

Over the years, the guideline value of SriSarpujandar Street has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,005 per sq.ft. However, the value increased significantly in the following years, with the 2023 revision at Rs 1,500 per sq.ft and the most recent 2024 revision at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for SriSarpujandar Street. The overall change from the 2012 revision to the 2024 revision shows a 10% increase, highlighting the fluctuations in the guideline value over the years.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current value of SriSarpujandar Street.

• Sriram Colony: Rs 2,750 per sq.ft (2024)
• Sri Rajeswari Street: Rs 1,100 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 4,430 per sq.ft (2024)
• State Bank Colony Ist Street: Rs 2,750 per sq.ft (2024)
• Station Border Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in SriSarpujandar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers SriSarpujandar Street?

The Sub Registrar Office that covers SriSarpujandar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the sale process.

Additionally, the guideline value is used to assess the fair value of properties in the area, ensuring that transactions are conducted transparently. It is advisable for buyers to be aware of the current guideline value to make informed decisions when engaging in real estate transactions.

Frequently asked questions

What is the current guideline value of SriSarpujandar Street?

The current guideline value of SriSarpujandar Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, marking a 10% increase. It was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2012, showing fluctuations over the years.

What is the land classification for SriSarpujandar Street?

SriSarpujandar Street is classified as Residential Class I Type - III. This classification indicates the type of development allowed in the area.

Where can I find the Sub Registrar Office for SriSarpujandar Street?

The Sub Registrar Office for SriSarpujandar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in SriSarpujandar Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.