Guideline Value for Srinivasapuram

Srinivasapuram guideline value

The current guideline value of Srinivasapuram is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Neelankarai village, under the Neelankarai 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. Starting from Rs 112 per sq.ft in 2002, it increased to Rs 122 per sq.ft in 2003. The value then rose significantly to Rs 500 per sq.ft in 2007, followed by a jump to Rs 1,500 per sq.ft in 2012. However, it decreased to Rs 1,005 per sq.ft in 2017. The value then increased to Rs 1,500 per sq.ft in 2023 and has now reached Rs 1,700 per sq.ft in 2024. The changes between these revisions include a 13% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 200% increase from 2007 to 2012, a 310% increase from 2003 to 2007, and a 9% increase from 2002 to 2003.

Overall, from 2002 to 2024, the guideline value has increased by 1,418%. The register does not have figures for the years between these revisions for this street.

Guideline values in Neelankarai

In Neelankarai, there are 377 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Srinivasapuram's 2024 figure below that median.

• Srinivasan Nagar: Rs 1,700 per sq.ft (2024)
• Srinivasa Avenue: Rs 1,700 per sq.ft (2024)
• Sri Jaya Nagar: Rs 1,700 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,800 per sq.ft (2024)
• Sulthan Ahmed Street: Rs 1,700 per sq.ft (2024)
• Sundeep Avenue & Road: Rs 4,400 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 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srinivasapuram?

Srinivasapuram falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Neelankarai. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

At the time of registration, the buyer must pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 1,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 112 per sq.ft in 2002 to Rs 1,700 per sq.ft in 2024, which is an overall increase of 1,418%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property with a guideline value of Rs 17,00,000, the total fees would amount to Rs 1,53,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Neelankarai?

The median guideline value in Neelankarai is Rs 2,200 per sq.ft, while Srinivasapuram's current value is below this median at Rs 1,700 per sq.ft.