Guideline Value for Srinivasa Perumal Street

Srinivasa Perumal Street guideline value

The current guideline value of Srinivasa Perumal Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Srinivasa Perumal Street has changed

The guideline value for Srinivasa Perumal Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,200 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in the 2012 revision. However, this value decreased by 33% to Rs 4,355 per sq.ft in the 2017 revision. Following this, the guideline value saw a substantial increase of 49% to Rs 6,500 per sq.ft in the 2023 revision, before rising to the current value of Rs 7,100 per sq.ft in the 2024 revision, marking a 9% increase.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 492%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which matches the current figure for Srinivasa Perumal Street.

• Srinivasa Pillai salai: Rs 7,100 per sq.ft (2024)
• Srinivasa Nagar street (Two Hills): Rs 3,900 per sq.ft (2024)
• Srirangam Avenue: Rs 15,000 per sq.ft (2024)
• Stanley Nagar: Rs 2,800 per sq.ft (2024)
• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Perumal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important 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 Srinivasa Perumal Street?

The Sub Registrar Office that covers Srinivasa Perumal Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

When buying or selling a property in Egmore, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a benchmark for calculating these charges during the registration process.

It is essential for buyers and sellers to be aware of the guideline value as it impacts the overall cost of the transaction. The higher the guideline value, the more significant the stamp duty and registration fees will be, which can influence the final sale price.

Frequently asked questions

What is the current guideline value of Srinivasa Perumal Street?

The current guideline value of Srinivasa Perumal Street is Rs 7,100 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 1,200 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, representing an overall increase of 492%.

What is the land classification for Srinivasa Perumal Street?

Srinivasa Perumal Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What is the role of the Periamet SRO?

The Periamet Sub Registrar Office is responsible for the registration of properties in the area, including the calculation of stamp duty and registration fees based on the guideline value.

How can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator, which will provide you with the total costs based on the guideline value and sale price.