Guideline Value for Srivasapuram Main Road

Srivasapuram Main Road guideline value

The current guideline value of Srivasapuram Main Road is Rs 1,750 per sq.ft, effective from 1 July 2024. This property is located in Srinivasapuram village under the Kunrathur SRO, classified as Residential Special Type - III.

How the guideline value of Srivasapuram Main Road has changed

Over the years, the guideline value of Srivasapuram Main Road has seen significant changes. The register shows a value of Rs 53 per sq.ft in 2003, which increased dramatically to Rs 400 per sq.ft in 2007, marking a rise of 655%. This was followed by a substantial increase to Rs 1,600 per sq.ft in 2012, a rise of 300%. However, the value then dropped to Rs 1,072 per sq.ft in 2017, reflecting a decrease of 33%. The guideline value rose again to Rs 1,600 per sq.ft in 2023, and most recently, it has increased to Rs 1,750 per sq.ft in 2024, a change of 9%.

It is important to note that there is no figure available for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by an impressive 3202%.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Srivasapuram Main Road's 2024 figure above this median.

• Sri Venkateswara Nagar: Rs 2,000 per sq.ft (2024)
• Sri Srinivasa Avenue: Rs 1,650 per sq.ft (2024)
• Sri Sangeetham Nagar: Rs 1,550 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,600 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,550 per sq.ft (2024)
• Srinivasa Nagar Annexe: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Srivasapuram Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,750 per sq.ft, the guideline value amounts to Rs 17,50,000. The stamp duty at 7% would be Rs 1,22,500, and the registration fee at 2% would be Rs 35,000, bringing the total to Rs 1,57,500. Duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srivasapuram Main Road?

The Sub Registrar Office that covers Srivasapuram Main Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Srinivasapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that these charges are calculated based on a standardized value.

When a property is sold, the guideline value will be compared to the sale price, and the higher amount will be used to calculate the applicable duties and fees. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Srivasapuram Main Road?

The current guideline value of Srivasapuram Main Road is Rs 1,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 53 per sq.ft in 2003 to Rs 1,750 per sq.ft in 2024, representing an overall increase of 3202%.

What is the median guideline value for streets in Srinivasapuram?

The median guideline value for streets in Srinivasapuram is Rs 1,650 per sq.ft, with Srivasapuram Main Road's 2024 figure being above this median.

What are the stamp duty rates for property in Srivasapuram?

The stamp duty rate for property transactions in Srivasapuram is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles registrations for properties in the area.