Guideline Value for Srinivasan Cross Street / LIC Colony

Srinivasan Cross Street / LIC Colony guideline value

The current guideline value of Srinivasan Cross Street / LIC Colony is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class I Type - I.

How the guideline value of Srinivasan Cross Street / LIC Colony has changed

The guideline value for Srinivasan Cross Street / LIC Colony has undergone several revisions over the years. Starting from Rs 188 per sq.ft in 2002, it increased to Rs 213 per sq.ft in 2003, marking a 13% change. The value then rose significantly to Rs 360 per sq.ft in 2007, reflecting a 69% increase. The most substantial jump occurred between 2007 and 2017, where the guideline value reached Rs 1,541 per sq.ft, representing a 328% rise. The latest revision in 2024 set the guideline value at Rs 2,530 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no registered figures for Srinivasan Cross Street / LIC Colony for the years 2012 and 2023. Overall, from 2002 to 2024, the guideline value has increased by 1246%.

Guideline values in Pammal

Pammal village has a total of 926 streets under the Pammal SRO, with guideline values for 2024 ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value in Pammal is Rs 2,090 per sq.ft, placing the 2024 figure for Srinivasan Cross Street / LIC Colony above this median.

• Srinivasan Street / LIC Colony: Rs 2,530 per sq.ft (2024)
• Srinivasan Street, LIC Colony Extn: Rs 2,530 per sq.ft (2024)
• Srinivasan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Sri Saraswathi Muthupandiyan Nagar: Rs 1,980 per sq.ft (2024)
• Sridharan Street/ Thandai Periyar Nagar: Rs 1,980 per sq.ft (2024)
• S.S.Avenue: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Cross Street / LIC Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, while the registration fee at 2% would be Rs 50,600. Together, the total fees would be Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan Cross Street / LIC Colony?

The Sub Registrar Office that covers Srinivasan Cross Street / LIC Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Pammal. It serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements and to understand the financial implications of their property transactions.

When a property is bought or sold, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions. This process helps maintain transparency and fairness in the real estate market.

Frequently asked questions

What is the current guideline value for Srinivasan Cross Street / LIC Colony?

The current guideline value for Srinivasan Cross Street / LIC Colony is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 188 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024, reflecting an overall increase of 1246% over the years.

What is the median guideline value in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, which is below the current guideline value of Rs 2,530 per sq.ft for Srinivasan Cross Street / LIC Colony.

What are the stamp duty and registration fees for a property in Srinivasan Cross Street / LIC Colony?

For a property valued at Rs 25,30,000, the stamp duty would be Rs 1,77,100 and the registration fee would be Rs 50,600, totaling Rs 2,27,700.

Which office handles registrations for properties in Pammal?

The Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, handles registrations for properties in Pammal.