Guideline Value for Srinivasan Street

Srinivasan Street guideline value

The current guideline value of Srinivasan Street in Kadaperi village, under the Tambaram Joint 1 SRO, is Rs 1,650 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Srinivasan Street has changed

Over the years, the guideline value of Srinivasan Street has seen several revisions. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased to Rs 1,500 per sq.ft in 2012, a rise of 50%. However, this value dropped to Rs 1,005 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 1,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 1,650 per sq.ft, marking a 10% rise from the previous year.

In total, from the 2007 revision to the 2024 revision, the guideline value has increased by 65%. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kadaperi

In Kadaperi, there are 142 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 7,700 per sq.ft. The median value is Rs 1,650 per sq.ft, which matches the guideline value of Srinivasan Street.

• Station Road: Rs 2,200 per sq.ft (2024)
• Subramania Barathi Street: Rs 1,320 per sq.ft (2024)
• South Kulakarai Street: Rs 2,200 per sq.ft (2024)
• Sundaram Colony 1st Street: Rs 1,320 per sq.ft (2024)
• Sundaram Colony 2nd Street: Rs 1,320 per sq.ft (2024)
• Sundaram Colony 3rd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan Street?

The Sub Registrar Office that covers Srinivasan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kadaperi. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures that the government receives the appropriate taxes based on the assessed value of the property.

It is essential for buyers and sellers to be aware of the current guideline value to accurately calculate the total costs involved in the transaction. This value is updated periodically, reflecting changes in the real estate market and local conditions.

Frequently asked questions

What is the current guideline value of Srinivasan Street?

The current guideline value of Srinivasan Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, representing an overall increase of 65% over the years.

What is the land classification for Srinivasan Street?

Srinivasan Street falls under the Residential Class I Type - II land classification.

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

The Sub Registrar Office for Srinivasan Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000.