Guideline Value for Srinivasa Raghavan Street

Srinivasa Raghavan Street guideline value

The current guideline value of Srinivasa Raghavan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, which falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasa Raghavan Street has changed

The guideline value for Srinivasa Raghavan Street has undergone several revisions over the years. In 2002, the value was Rs 341 per sq.ft, which increased to Rs 413 per sq.ft in 2003, marking a change of +21%. The value then saw a significant jump to Rs 800 per sq.ft in 2007, which represented a +94% increase. By 2012, the value was revised to Rs 2,500 per sq.ft, showing a substantial increase of +213% from the previous revision. However, it decreased to Rs 1,675 per sq.ft in 2017, reflecting a decline of -33%. The value then rose again to Rs 2,500 per sq.ft in 2023, followed by the current value of Rs 2,700 per sq.ft in 2024, which is an increase of +8%.

Overall, from 2002 to 2024, the guideline value has increased by +692%. It is important to note that the register has no figure for this street in the years not mentioned.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Srinivasa Raghavan Street.

• State Bank Colony: Rs 2,700 per sq.ft (2024)
• St. Mary's Road: Rs 2,700 per sq.ft (2024)
• Subramaniya Thottam: Rs 2,700 per sq.ft (2024)
• Sudukattu Street: Rs 2,700 per sq.ft (2024)
• Somu Gramani Street: Rs 2,700 per sq.ft (2024)
• Soma Sundara Vinayagar Koil Street (Melpattadai): Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Raghavan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000. Together, the total cost for these fees would be Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Raghavan Street?

The Sub Registrar Office that covers Srinivasa Raghavan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Sembiam. It serves as a benchmark for determining the minimum value of a property for registration purposes, ensuring that the transaction reflects a fair estimate of the property's worth.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the guideline value or the sale price, whichever is higher, ensuring that the registration process is transparent and standardized.

Frequently asked questions

What is the current guideline value of Srinivasa Raghavan Street?

The current guideline value of Srinivasa Raghavan Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 341 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, representing an overall increase of +692%.

What is the land classification for Srinivasa Raghavan Street?

The land classification for Srinivasa Raghavan Street is Residential Class I Type - I.

Where can I find the Sub Registrar Office for Srinivasa Raghavan Street?

The Sub Registrar Office for Srinivasa Raghavan Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated for properties in Sembiam?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the total fees would amount to Rs 2,43,000.