Guideline Value for Srimathi city

Srimathi city guideline value

The current guideline value of Srimathi city is Rs 300 per sq.ft, effective from 1 July 2024. It is located in Vellarai village under the Sriperumpudur SRO, classified as Residential Special Type - II.

How the guideline value of Srimathi city has changed

Looking at the revisions over the years, the guideline value for this street has seen several changes. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged in the 2017 revision, but dropped to Rs 201 per sq.ft in that year. The guideline value then increased by 49% to Rs 300 per sq.ft in the 2023 revision, and it has stayed the same in the 2024 revision, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained at Rs 300 per sq.ft, indicating stability in the value over this period despite fluctuations in earlier years.

Guideline values in Vellarai

In Vellarai village, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft. The median value across these streets is Rs 300 per sq.ft, which aligns with the current guideline value of this street.

• Sbk Avenue Phase II: Rs 400 per sq.ft (2024)
• Sbk Avenue Phase I: Rs 400 per sq.ft (2024)
• Royal Lands Co-op Maha Nagar Phase II: Rs 600 per sq.ft (2024)
• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• VN Nagar: Rs 300 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Srimathi city

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, which totals Rs 21,000, and the registration fee is charged at 2%, amounting to Rs 6,000. Together, the total cost for these fees would be Rs 27,000. 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 Srimathi city?

The Sub Registrar Office that covers Srimathi city is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vellarai. It is used to determine the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is often considered the minimum value for property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Srimathi city?

The current guideline value of Srimathi city is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 300 per sq.ft since 2012, with fluctuations in previous years, including a drop to Rs 201 per sq.ft in 2017 and an increase back to Rs 300 per sq.ft in 2023.

What is the land classification for Srimathi city?

Srimathi city is classified as Residential Special Type - II, which influences its guideline value and potential uses.

What are the stamp duty rates for property in Srimathi city?

The stamp duty rate for property transactions in Srimathi city is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srimathi city?

The Sub Registrar Office for Srimathi city is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.