Guideline Value for Srinivasan Street, LIC Colony Extn

Srinivasan Street, LIC Colony Extn guideline value

The current guideline value of Srinivasan Street, LIC Colony Extn 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 Street, LIC Colony Extn has changed

In the 2017 revision, the guideline value was recorded at Rs 1,541 per sq.ft. This represents a significant increase of 64% to the current value of Rs 2,530 per sq.ft in the 2024 revision. It is important to note that the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 revision to the 2024 revision, the guideline value has risen from Rs 1,541 to Rs 2,530 per sq.ft. This change reflects the latest valuation adjustments made by the registration department.

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 for these streets is Rs 2,090 per sq.ft, placing Srinivasan Street, LIC Colony Extn above this median.

• Srinivasan Street / LIC Colony: 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 Extn

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, bringing the total to Rs 2,27,700. It is essential to note that the 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 Street, LIC Colony Extn?

The Sub Registrar Office that covers Srinivasan Street, LIC Colony Extn 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 details.

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

The guideline value is a crucial factor in the registration process of property transactions in Pammal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and for sellers to set an appropriate selling price that aligns with the current market standards.

Frequently asked questions

What is the current guideline value of Srinivasan Street, LIC Colony Extn?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,541 per sq.ft to Rs 2,530 per sq.ft in 2024, marking a 64% rise.

What are the other streets in Pammal with their guideline values?

Other streets in Pammal include Srinivasan Street / Muthamzhi Nagar at Rs 2,475 per sq.ft, and Srinivasan Cross Street / LIC Colony at Rs 2,530 per sq.ft, among others.

How is the stamp duty calculated for properties in Pammal?

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 25,30,000, the stamp duty would be Rs 1,77,100.

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

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