Guideline Value for Srinivasalu Cross Street

Srinivasalu Cross Street guideline value

The current guideline value of Srinivasalu Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Srinivasalu Cross Street has changed

The guideline value for Srinivasalu Cross Street has undergone several revisions over the years. In 2003, the value was set at Rs 486 per sq.ft, which increased to Rs 800 per sq.ft in 2007. Following this, the value saw a significant rise to Rs 2,500 per sq.ft in 2012, before dropping to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023, and finally, the current value of Rs 2,750 per sq.ft from the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. There was a notable drop of 33% from 2012 to 2017. The increase from 2007 to 2012 was a substantial 213%, and from 2003 to 2007, the value rose by 65%. Overall, from 2003 to 2024, there has been an increase of 466%. The register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, indicating that the guideline value of Srinivasalu Cross Street is below this median.

• Srinivasa Cross Street: Rs 2,750 per sq.ft (2024)
• Srinivasalu Naidu Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nayakkar Street: Rs 2,750 per sq.ft (2024)
• Srinivasapuram: Rs 3,300 per sq.ft (2024)
• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Sri Ragavendra Nagar,Old Pallavaram: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasalu Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasalu Cross Street?

The Sub Registrar Office that covers Srinivasalu Cross Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value, as it impacts the financial obligations related to the transaction. It is advisable to consult the latest guideline values to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Srinivasalu Cross Street?

The current guideline value of Srinivasalu Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 486 per sq.ft in 2003 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What is the land classification for Srinivasalu Cross Street?

Srinivasalu Cross Street is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Srinivasalu Cross Street?

The Sub Registrar Office for Srinivasalu Cross Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for property in Srinivasalu Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500.