Guideline Value for Srinivasapuram

Srinivasapuram guideline value

The current guideline value of Srinivasapuram, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Srinivasapuram has changed

The guideline value for Srinivasapuram has seen changes over the years. The 2012 revision listed the value at Rs 2,500 per sq.ft. With the recent 2024 revision, the value increased to Rs 2,700 per sq.ft, marking an 8% rise from the previous figure.

It is important to note that the register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, only the revisions from 2012 and 2024 are available for comparison.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Srinivasapuram.

• Srinivasa Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Srinivasan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Srinivasan Street: Rs 2,700 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 2,700 per sq.ft (2024)
• Srinivasa 2nd Lane: Rs 1,900 per sq.ft (2024)
• Srinivasa 1st Lane: Rs 1,900 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Srinivasapuram?

The Sub Registrar Office covering Srinivasapuram is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your nearest SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency and standardization in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legalizing the transaction. This ensures that both buyers and sellers are aware of the costs associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Srinivasapuram?

The current guideline value of Srinivasapuram is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2012 to Rs 2,700 per sq.ft in 2024, reflecting an 8% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of Srinivasapuram?

Srinivasapuram falls under the Residential Class I Type - I land classification. This classification is important for determining the guideline value and property usage.

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

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Srinivasapuram located?

The Madhavaram Sub Registrar Office, which covers Srinivasapuram, is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles all property registrations for the area.