Guideline Value for Srinivasa Colony

Srinivasa Colony guideline value

The current guideline value of Srinivasa Colony, located in Old Gummidipoondi village under the Gummidipoondi SRO, is Rs 220 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - III.

How the guideline value of Srinivasa Colony has changed

The guideline value for Srinivasa Colony has seen several revisions over the years. In 2003, the guideline value was Rs 48 per sq.ft, which increased to Rs 100 per sq.ft in 2007. Following that, the value rose to Rs 200 per sq.ft in 2012, before dropping to Rs 134 per sq.ft in 2017. The 2023 revision set the value at Rs 200 per sq.ft, and the latest revision in 2024 has increased it to Rs 220 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 358%. The register has no figure for the year 2002 for this street.

Guideline values in Old Gummidipoondi

In Old Gummidipoondi, there are 90 streets under the Gummidipoondi SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 1,210 per sq.ft, with a median value of Rs 660 per sq.ft. Srinivasa Colony's 2024 figure is below this median.

• St. Mary School Street Ward No.11 Door No.1-43: Rs 660 per sq.ft (2024)
• Sipcot Industrial Estate: Rs 330 per sq.ft (2024)
• Shree Ragavandhira City: Rs 660 per sq.ft (2024)
• Shirdi Sai Baba Nagar: Rs 330 per sq.ft (2024)
• Tapal Street Ward No.3 Door No.1-20: Rs 660 per sq.ft (2024)
• Tapal Street Ward No.4 Dor No.121-156: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value would be Rs 2,20,000. The stamp duty at 7% would amount to Rs 15,400, and the registration fee at 2% would be Rs 4,400, totaling Rs 19,800. 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 information.

Which Sub Registrar Office covers Srinivasa Colony?

The Sub Registrar Office that covers Srinivasa Colony is the Gummidipoondi Sub Registrar Office, located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Old Gummidipoondi. It helps determine the stamp duty and registration fees payable, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Srinivasa Colony?

The current guideline value of Srinivasa Colony is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 48 per sq.ft in 2003 to Rs 220 per sq.ft in 2024, with several revisions in between, including a drop in 2017 and a recent increase in 2024.

What is the median guideline value in Old Gummidipoondi?

The median guideline value in Old Gummidipoondi is Rs 660 per sq.ft as of 2024. Srinivasa Colony's guideline value is below this median.

What are the stamp duty and registration fees for properties in Srinivasa Colony?

For a property valued at Rs 2,20,000, the stamp duty would be Rs 15,400, and the registration fee would be Rs 4,400, totaling Rs 19,800.

Where can I find the Sub Registrar Office for Srinivasa Colony?

The Gummidipoondi Sub Registrar Office covers Srinivasa Colony and is located at No.9, Grc Complex, G.n.t.road, Gummidipoondi-601201, Chennai registration zone.