Guideline Value for Srinivasapuram 3rd Lane

Srinivasapuram 3rd Lane guideline value

The current guideline value for Srinivasapuram 3rd Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - II.

How the guideline value of Srinivasapuram 3rd Lane has changed

Over the years, the guideline value for Srinivasapuram 3rd Lane 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. The most recent 2024 revision raised the guideline value to Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the guideline value has increased by 120% from the 2007 revision to the 2024 revision. 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 that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Srinivasapuram 3rd Lane's 2024 figure below that median.

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

Stamp duty and registration fee for property in Srinivasapuram 3rd Lane

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 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.

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

Which Sub Registrar Office covers Srinivasapuram 3rd Lane?

The Sub Registrar Office that covers Srinivasapuram 3rd Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for further assistance.

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

The guideline value is a key factor in property transactions in Tondaiarpet, as it determines the minimum value at which a property can be registered. Buyers and sellers must take this value into account when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue based on the property’s assessed value.

Frequently asked questions

What is the current guideline value of Srinivasapuram 3rd Lane?

The current guideline value of Srinivasapuram 3rd 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, marking a total increase of 120% over this period.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, with Srinivasapuram 3rd Lane's 2024 figure being below this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles property registrations for Srinivasapuram 3rd Lane?

The Royapuram Sub Registrar Office handles property registrations for Srinivasapuram 3rd Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.