Guideline Value for Srinivasapuram

Srinivasapuram guideline value

The current guideline value of Srinivasapuram is Rs 250 per sq.ft, effective from 1 July 2024. This village falls under the Mambakkam locality, registered with the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Srinivasapuram has changed

The guideline value for Srinivasapuram has seen several revisions over the years. In 2012, the value was set at Rs 250 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 167 per sq.ft. Following this, the value increased to Rs 250 per sq.ft in 2023 and has remained the same in the 2024 revision, reflecting a 50% increase from 2017 to 2023. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 250 per sq.ft. The 2023 to 2024 revision shows no change, maintaining the same guideline value of Rs 250 per sq.ft.

Guideline values in Mambakkam

Mambakkam has a total of 39 streets under the Sunguvarchattram SRO, with 2024 guideline values ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, placing Srinivasapuram's guideline value below this median.

• Sri Renugambal Nagar: Rs 505 per sq.ft (2024)
• Sri umariamman Kovil Street: Rs 200 per sq.ft (2024)
• SriAnandavalli Nagar: Rs 700 per sq.ft (2024)
• Thabalmedu: Rs 305 per sq.ft (2024)
• TheruVeethiamman Kovil Street: Rs 275 per sq.ft (2024)
• Uratchimandra Aluvalaga street: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasapuram

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. 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 Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the property registration process in Mambakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as this will affect the overall cost of registration. Accurate knowledge of these values helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2012, 2023, and 2024. It decreased to Rs 167 per sq.ft in 2017, showing a 50% increase from 2017 to 2023.

What is the land classification for Srinivasapuram?

Srinivasapuram is classified as Residential Class III Type - I, indicating its designation for residential use.

What are the stamp duty rates for property in Srinivasapuram?

The stamp duty for property in Srinivasapuram is charged at 7% of the guideline value or the sale price, whichever is higher. There is also a registration fee of 2% applicable.

Where can I find the Sub Registrar Office for Srinivasapuram?

The Sub Registrar Office for Srinivasapuram is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more information through the provided links.