Guideline Value for Sriman Srinivasa Road

Sriman Srinivasa Road guideline value

The current guideline value of Sriman Srinivasa Road is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Special Type - IV.

How the guideline value of Sriman Srinivasa Road has changed

The guideline value for Sriman Srinivasa Road has seen several revisions over the years. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 13,000 per sq.ft, which increased to Rs 14,300 per sq.ft in the 2024 revision, marking a change of +10%.

This significant increase reflects the latest revision, which establishes the current value as of July 2024. The previous revision in 2023 set the value at Rs 13,000 per sq.ft, indicating a clear upward trend in the guideline value for this street.

Guideline values in Mylapore Part 1

Mylapore Part 1 has a range of guideline values across its 333 streets under the Chennai Central Joint I SRO, with figures ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, and Sriman Srinivasa Road's 2024 figure of Rs 14,300 per sq.ft is above this median.

• Srinivasa Perumal Sannathi 1st Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 2nd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi 3rd Street: Rs 8,700 per sq.ft (2024)
• Srinivasa Perumal Sannathi Street: Rs 8,700 per sq.ft (2024)
• Sriram Nagar North Street: Rs 14,300 per sq.ft (2024)
• Sriram Nagar South Street: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sriman Srinivasa Road

For a 1,000 sq.ft plot at the current rate of Rs 14,300 per sq.ft, the guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, totaling Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sriman Srinivasa Road?

The Sub Registrar Office covering Sriman Srinivasa Road is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for additional details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is a crucial factor in the registration process of property transactions in Mylapore Part 1. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When buying or selling property, the guideline value ensures that both parties are aware of the minimum value at which the property can be registered. This helps in maintaining transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Sriman Srinivasa Road?

The current guideline value of Sriman Srinivasa Road is Rs 14,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 1?

The median guideline value in Mylapore Part 1 is Rs 8,800 per sq.ft. Sriman Srinivasa Road's current guideline value is above this median.

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

The stamp duty for property in this area is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Sriman Srinivasa Road is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find more details by following the provided link.