Guideline Value for Srinivasapuram

Srinivasapuram guideline value

The current guideline value of Srinivasapuram, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Srinivasapuram has changed

The guideline value for Srinivasapuram has seen several revisions over the years. Starting from Rs 369 per sq.ft in 2003, it increased to Rs 600 per sq.ft in 2007, marking a significant rise of 63%. The value then surged to Rs 3,000 per sq.ft in 2012, representing a remarkable increase of 400%. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has been set at Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 794%. It is important to note that the register does not provide a figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with the 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Srinivasapuram.

• Srinivasa Street: Rs 2,750 per sq.ft (2024)
• Srinivasa Nayakkar Street: Rs 2,750 per sq.ft (2024)
• Srinivasalu Naidu Street: Rs 3,850 per sq.ft (2024)
• Srinivasalu Cross Street: Rs 2,750 per sq.ft (2024)
• Srinivasa Cross Street: Rs 2,750 per sq.ft (2024)
• Sri Ragavendra Nagar, Old Pallavaram: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srinivasapuram?

The Sub Registrar Office that covers Srinivasapuram is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

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

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which may affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 369 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 794% over this period.

What are the stamp duty and registration fees for property in Srinivasapuram?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current guideline value, the total cost for these fees would be Rs 2,97,000.

Which Sub Registrar Office covers Srinivasapuram?

The Pallavaram Sub Registrar Office covers Srinivasapuram, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Srinivasapuram?

Srinivasapuram is classified as Residential Class I Type - II, indicating its suitability for residential development.