Guideline Value for Srinivasapuram 1st Lane

Srinivasapuram 1st Lane guideline value

The current guideline value of Srinivasapuram 1st Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This lane is located in Tondaiarpet village and falls under the Royapuram SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Srinivasapuram 1st Lane has changed

The guideline value for Srinivasapuram 1st Lane has undergone several revisions over the years. The earliest available revision is from 2007, where the guideline value was Rs 500 per sq.ft. This figure increased significantly to Rs 1,000 per sq.ft in 2012, marking a 100% rise. The value remained unchanged at Rs 1,000 per sq.ft until the 2023 revision, which raised it to Rs 1,100 per sq.ft, reflecting a 10% increase.

From 2007 to 2024, the overall increase in the guideline value is 120%, with the current value of Rs 1,100 per sq.ft marking a notable change from previous years. It is important to note that there are no figures available for the years 2002, 2003, and 2017 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO, with guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft as of 2024. The median guideline value for the area is Rs 1,600 per sq.ft, indicating that the guideline value of Srinivasapuram 1st Lane is below this median.

• Srinivasapuram 1st Street: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 2nd Lane: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 2nd Street: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 3rd Lane: Rs 1,100 per sq.ft (2024)
• Srinivasapuram 4th Lane: Rs 1,100 per sq.ft (2024)
• Srinivasa Ramanujam Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees together to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasapuram 1st Lane?

The Sub Registrar Office covering Srinivasapuram 1st Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Tondaiarpet. It serves as a benchmark for determining the minimum price at which a property can be sold or transferred. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srinivasapuram 1st Lane?

The current guideline value of Srinivasapuram 1st Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing a total increase of 120% over the years.

What is the registration office for Srinivasapuram 1st Lane?

The registration office for Srinivasapuram 1st Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in this area?

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 11,00,000, the stamp duty would be Rs 77,000.

What are the other streets in Tondaiarpet with similar guideline values?

Other streets in Tondaiarpet, such as Srinivasapuram 1st Street, 2nd Lane, 2nd Street, 3rd Lane, and 4th Lane, all share the same guideline value of Rs 1,100 per sq.ft as of 2024.