Guideline Value for Sripuram 3rd Street

Sripuram 3rd Street guideline value

The current guideline value of Sripuram 3rd 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 is classified as Commercial Class I Type - II.

How the guideline value of Sripuram 3rd Street has changed

The guideline value for Sripuram 3rd Street has undergone several revisions over the years. In 2003, the value was Rs 312 per sq.ft, which increased to Rs 350 per sq.ft in 2007. This was followed by a significant jump to Rs 1,876 per sq.ft in 2017, marking a 436% increase from the previous revision. The value then rose to Rs 2,800 per sq.ft in 2023, a 49% increase from 2017. The most recent revision in 2024 set the guideline value at Rs 3,080 per sq.ft, reflecting a 10% increase from 2023. Notably, there are no figures available for the years 2002 and 2012.

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 3rd Street is above this median.

• Sripuram 2nd Street: Rs 3,080 per sq.ft (2024)
• Sripuram 1st 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 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, bringing the total cost for these fees to Rs 2,77,200. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sripuram 3rd Street?

The Sub Registrar Office that covers Sripuram 3rd 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 a crucial factor during the registration of property transactions in Thiruneermalai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. This ensures that the government receives the correct revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sripuram 3rd Street?

The current guideline value of Sripuram 3rd 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, marking an overall increase of 887% over the years.

What is the land classification for Sripuram 3rd Street?

Sripuram 3rd Street is classified as Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees by using the stamp duty and registration fee calculator.

Which office handles registrations for properties in Thiruneermalai?

The Pammal Sub Registrar Office handles registrations for properties in Thiruneermalai, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.