Guideline Value for Srinivasan Street (Vetri Nagar)

Srinivasan Street (Vetri Nagar) guideline value

The current guideline value of Srinivasan Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Srinivasan Street (Vetri Nagar) has changed

The guideline value for Srinivasan Street (Vetri Nagar) has seen several revisions over the years. In 2007, the guideline value was Rs 800 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, there was a decrease to Rs 2,010 per sq.ft in 2017. Following this, the value rose to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 3,301 per sq.ft. Notably, the register has no figures for the years 2002 and 2003.

From the 2017 revision to the 2023 revision, there was a substantial increase of 49%. The value then increased by 10% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 313%.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is the same as the current guideline value for Srinivasan Street (Vetri Nagar).

• S.R.P.C. 70 Feet Street: Rs 5,500 per sq.ft (2024)
• S.R.P.C. Housing Society: Rs 5,500 per sq.ft (2024)
• S.R.P.C. Housing Society Land Acquisation Road: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 10th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 11th Street: Rs 5,500 per sq.ft (2024)
• S.R.P. Colony 12th Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. Together, the total cost for stamp duty and registration would be Rs 2,97,090. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Srinivasan Street (Vetri Nagar)?

The Sub Registrar Office that covers Srinivasan Street (Vetri Nagar) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Peravallur. It is used to determine the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the transaction process.

When purchasing property, the guideline value serves as a benchmark for the minimum value on which stamp duty is calculated. This means that even if the sale price is lower than the guideline value, the higher guideline value will be used to calculate the applicable fees.

Frequently asked questions

What is the current guideline value of Srinivasan Street (Vetri Nagar)?

The current guideline value of Srinivasan Street (Vetri Nagar) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 313%.

What is the land classification for Srinivasan Street (Vetri Nagar)?

The land classification for Srinivasan Street (Vetri Nagar) is Residential Special Type - II.

What are the stamp duty and registration fees for properties in Srinivasan Street (Vetri Nagar)?

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070, and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Where can I find the Sub Registrar Office for Srinivasan Street (Vetri Nagar)?

The Sembiam Sub Registrar Office, which covers Srinivasan Street (Vetri Nagar), is located at 5, Papermills Road, Sembiam, Chennai - 600011.