Guideline Value for Sripuram 2nd Street

Sripuram 2nd Street guideline value

The current guideline value of Sripuram 2nd Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village under the Pammal SRO, classified as Commercial Class I Type - II.

How the guideline value of Sripuram 2nd Street has changed

The guideline value for Sripuram 2nd Street has seen significant changes over the years. In the 2003 revision, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. The 2017 revision marked a substantial rise to Rs 1,876 per sq.ft, followed by an increase to Rs 2,800 per sq.ft in 2023. The latest revision in 2024 has set the guideline value at Rs 3,080 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 887%. Notably, there are no figures available for the years 2002 and 2012 in the register for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO carrying 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. Sripuram 2nd Street's 2024 figure of Rs 3,080 per sq.ft is above this median.

• Sripuram 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would amount to Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total cost together to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sripuram 2nd Street?

The Sub Registrar Office that covers Sripuram 2nd Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

When you buy or sell property in Thiruneermalai, the guideline value is a crucial factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that the property is registered at a value that reflects the current market conditions, thereby helping in the assessment of taxes and fees associated with the property transfer.

Frequently asked questions

What is the current guideline value of Sripuram 2nd Street?

The current guideline value of Sripuram 2nd Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What is the land classification for Sripuram 2nd Street?

Sripuram 2nd Street is classified as Commercial Class I Type - II under the current guideline value register.

Where can I find the Sub Registrar Office for this area?

The Pammal Sub Registrar Office covers Sripuram 2nd Street, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,080 per sq.ft, the stamp duty would be Rs 2,15,600.