Guideline Value for Srinivasapuram

Srinivasapuram guideline value

The current guideline value of Srinivasapuram, located in Somangalam_B village under the Sriperumpudur SRO, is Rs 200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Srinivasapuram has changed

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This figure remained unchanged at Rs 200 per sq.ft in the 2023 revision and has been carried forward to the 2024 revision, reflecting a 49% increase from the 2017 figure. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Comparing the revisions, the guideline value has seen no change from 2023 to 2024, remaining at Rs 200 per sq.ft. Overall, from 2017 to 2024, the increase is 49%, indicating a stable valuation in recent years.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Srinivasapuram is below this median.

• Sri Rajaganapathy Nagar: Rs 400 per sq.ft (2024)
• Sri Ram Avenue: Rs 250 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 400 per sq.ft (2024)
• Sri Ranganathapuram Colony: Rs 250 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 400 per sq.ft (2024)
• Sri Gayathri Doctors Nest Ph.II: Rs 500 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, 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 Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of properties in Somangalam_B. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair rate as per the government standards.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory for legal ownership transfer. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unchanged at Rs 200 per sq.ft from 2023 to 2024. It increased from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, marking a 49% rise over that period.

What is the land classification of Srinivasapuram?

Srinivasapuram is classified as Residential Class III Type - I. This classification affects the guideline value and the type of developments permitted in the area.

Where can I find the Sub Registrar Office for Srinivasapuram?

The Sub Registrar Office for Srinivasapuram is located at 27, Chetty Street, Sriperumpudur-602 105, in the Chengalpattu registration zone.

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, on a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000, and the registration fee would be Rs 4,000.