Guideline Value for Sripuram 1st Street

Sripuram 1st Street guideline value

The current guideline value of Sripuram 1st Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, and it falls under the Commercial Class I Type - II land classification.

How the guideline value of Sripuram 1st Street has changed

Over the years, the guideline value of Sripuram 1st Street has seen significant changes. The 2003 revision recorded a value of Rs 312 per sq.ft, which increased to Rs 500 per sq.ft in 2007, marking a 60% rise. The value then surged to Rs 1,876 per sq.ft in 2017, reflecting a remarkable 275% increase. The 2023 revision set the value at Rs 2,800 per sq.ft, a 49% increase from the previous revision. Finally, the current 2024 revision has further increased the value to Rs 3,080 per sq.ft, which is a 10% rise from 2023.

It is important to note that there are no figures available for the revisions in 2002 and 2012 for this street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 887%.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft, with a median value of Rs 2,420 per sq.ft. The guideline value of Sripuram 1st Street is above this median.

• Sripuram 2nd Street: Rs 3,080 per sq.ft (2024)
• Sripuram 3rd Street: Rs 3,080 per sq.ft (2024)
• Sri Ranganathan Nagar: Rs 2,420 per sq.ft (2024)
• Sri Ranganathaswamy 1st Street: Rs 2,420 per sq.ft (2024)
• Sri Ranganathaswamy 2nd Street: Rs 2,420 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sripuram 1st Street

For a 1,000 sq.ft plot at the current guideline value, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, while the registration fee at 2% would be Rs 61,600. Together, the total cost for stamp duty and registration fee would be Rs 2,77,200. 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 Sripuram 1st Street?

The Sub Registrar Office that covers Sripuram 1st Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling a property, it is crucial to be aware of the current guideline value, as it directly impacts the financial obligations involved in the transaction. Buyers should ensure that the sale price is at least equal to or higher than the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of Sripuram 1st Street?

The current guideline value of Sripuram 1st Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 312 per sq.ft in 2003 to Rs 3,080 per sq.ft in 2024, representing an overall increase of 887%.

What are the stamp duty and registration fees for property in Sripuram 1st Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 30,80,000. The stamp duty would be Rs 2,15,600, and the registration fee would be Rs 61,600, totaling Rs 2,77,200.

Which Sub Registrar Office covers the area of Sripuram 1st Street?

The Pammal Sub Registrar Office covers Sripuram 1st Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification of Sripuram 1st Street?

Sripuram 1st Street falls under the Commercial Class I Type - II land classification.