Guideline Value for Srinivasalu Naidu Street

Srinivasalu Naidu Street guideline value

The current guideline value of Srinivasalu Naidu Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, with a land classification of Mixed Type - I.

How the guideline value of Srinivasalu Naidu Street has changed

The guideline value for Srinivasalu Naidu Street has undergone several revisions over the years. Starting with the 2003 revision, the value was Rs 486 per sq.ft. It increased to Rs 800 per sq.ft in 2007, marking a significant rise of 65%. The 2012 revision saw a further increase to Rs 3,500 per sq.ft, reflecting a 338% growth. However, in 2017, the value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The 2023 revision set the guideline value at Rs 3,750 per sq.ft, which was a 60% increase compared to 2017. The most recent revision in 2024 has raised the value to Rs 3,850 per sq.ft, a 3% increase from the previous year.

Notably, there is no figure available for the 2002 revision in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Srinivasalu Naidu Street's 2024 figure above this median.

• Srinivasalu Cross Street: Rs 2,750 per sq.ft (2024)
• Srinivasa Cross Street: Rs 2,750 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 Naidu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value or the sale price. For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasalu Naidu Street?

The Sub Registrar Office that covers Srinivasalu Naidu Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It determines the minimum value 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, the guideline value helps both parties understand the expected valuation of the property. It is essential for buyers to be aware of the guideline value to ensure that they are paying a fair price for the property based on the official register.

Frequently asked questions

What is the current guideline value of Srinivasalu Naidu Street?

The current guideline value of Srinivasalu Naidu Street is Rs 3,850 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 3,850 per sq.ft in 2024, reflecting an overall increase of 692% over this period.

What is the role of the Pallavaram SRO?

The Pallavaram SRO is responsible for maintaining the guideline value register and facilitating property registrations in Zaminpallavaram, ensuring compliance with local regulations.

What are the stamp duty rates applicable in Srinivasalu Naidu Street?

The stamp duty rate applicable is 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Are there other streets in Zaminpallavaram with different guideline values?

Yes, there are several other streets in Zaminpallavaram with varying guideline values, ranging from Rs 2,100 to Rs 11,000 per sq.ft, with the median value being Rs 3,300 per sq.ft.