Guideline Value for Srinivasapuram

Srinivasapuram guideline value

The current guideline value of Srinivasapuram, located in Moulivakkam village under the Kunrathur SRO, is Rs 2,450 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Srinivasapuram has changed

The guideline value for Srinivasapuram has seen significant changes over the years. In 2003, the guideline value was Rs 250 per sq.ft, which increased to Rs 750 per sq.ft in 2007. This was a substantial rise of 200%. The value then jumped to Rs 2,200 per sq.ft in 2012, marking an increase of 193%. However, it decreased to Rs 1,474 per sq.ft in 2017, a decline of 33%. Following this, the value rose to Rs 2,200 per sq.ft in 2023, and finally, it reached Rs 2,450 per sq.ft in 2024, reflecting an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 880%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Moulivakkam

Moulivakkam village has a range of guideline values across its 44 streets under the Kunrathur SRO, with values ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median guideline value for the area is Rs 2,450 per sq.ft, which is the same as the current guideline value for Srinivasapuram.

• Sri Murugan Nagar: Rs 2,450 per sq.ft (2024)
• Sri Ranga Nagar: Rs 2,450 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 2,650 per sq.ft (2024)
• Sri Sairam Avenue , Sathyanarayanapuram: Rs 2,450 per sq.ft (2024)
• Sri Kamatchi Amman Nagar: Rs 2,450 per sq.ft (2024)
• Sri Kamakshi Nagar: Rs 2,450 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 2,450 per sq.ft, the total guideline value would be Rs 24,50,000. The stamp duty at 7% would amount to Rs 1,71,500, while the registration fee at 2% would be Rs 49,000. Together, the total cost for stamp duty and registration would be Rs 2,20,500. 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 Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For further assistance, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Moulivakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value must be considered as it can influence the overall cost of the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price, which can significantly impact the total expenses involved in the property transaction.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 2,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 250 per sq.ft in 2003 to Rs 2,450 per sq.ft in 2024, an overall increase of 880%.

What is the registration office for Srinivasapuram?

The registration office for Srinivasapuram is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated in Srinivasapuram?

Stamp duty in Srinivasapuram is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also applicable.

What are the other streets in Moulivakkam with the same guideline value?

Other streets in Moulivakkam with the same guideline value of Rs 2,450 per sq.ft include Sri Murugan Nagar, Sri Ranga Nagar, Sri Sairam Avenue, Sathyanarayanapuram, Sri Kamatchi Amman Nagar, and Sri Kamakshi Nagar.