Guideline Value for Srinivasapuram 1st Street

Srinivasapuram 1st Street guideline value

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

How the guideline value of Srinivasapuram 1st Street has changed

Over the years, the guideline value of Srinivasapuram 1st Street has seen several revisions. The 2007 revision set the value at Rs 500 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. This figure remained unchanged in the 2023 revision, but the 2024 revision marked a significant increase to Rs 1,100 per sq.ft, reflecting a 10% rise from the previous year.

In summary, the guideline value increased by 100% from Rs 500 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012. Overall, from 2007 to 2024, the guideline value has risen by 120% from Rs 500 per sq.ft to Rs 1,100 per sq.ft. The register has no figures 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 that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Srinivasapuram 1st Street is below this median.

• Srinivasapuram 1st Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasapuram 1st Street?

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

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 value at which properties can be registered, ensuring transparency and fairness in property dealings.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Srinivasapuram 1st Street 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 changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 120% over this period.

What is the land classification for Srinivasapuram 1st Street?

Srinivasapuram 1st Street falls under the Residential Class II Type - II land classification.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Srinivasapuram 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000.