Guideline Value for Srinivasan Street / LIC Colony

Srinivasan Street / LIC Colony guideline value

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

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

The guideline value for Srinivasan Street / LIC Colony has seen significant changes over the years. In 2002, the guideline value was Rs 188 per sq.ft, which increased to Rs 213 per sq.ft in 2003, marking a 13% rise. By 2007, the value had jumped to Rs 360 per sq.ft, reflecting a 69% increase from the previous revision. The 2017 revision saw a dramatic increase to Rs 1,541 per sq.ft, which was a 328% rise from 2007. The most recent revision in 2024 set the value at Rs 2,530 per sq.ft, indicating a 64% increase from 2017. Overall, from 2002 to 2024, the guideline value has increased by 1246%.

It is important to note that there are no figures available for the years 2012 and 2023 for this street.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that have a guideline value for 2024, ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, and the guideline value for Srinivasan Street / LIC Colony is above this median.

• Srinivasan Street, LIC Colony Extn: Rs 2,530 per sq.ft (2024)
• Srinivasan Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Srinivasan Cross Street / LIC Colony: Rs 2,530 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 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, and the registration fee at 2% would be Rs 50,600, bringing the total cost for these fees to Rs 2,27,700. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Srinivasan Street / LIC Colony?

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

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

The guideline value is a crucial factor in property transactions in Pammal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

Frequently asked questions

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

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an increase of 1246% from Rs 188 per sq.ft in 2002 to Rs 2,530 per sq.ft in 2024.

What is the stamp duty rate for properties in Pammal?

The stamp duty rate for properties in Pammal is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Srinivasan Street / LIC Colony?

The Sub Registrar Office for Srinivasan Street / LIC Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the median guideline value for streets in Pammal?

The median guideline value for streets in Pammal is Rs 2,090 per sq.ft, with Srinivasan Street / LIC Colony's value being above this median.