Guideline Value for S.R. Colony 8th Street

S.R. Colony 8th Street guideline value

The current guideline value of S.R. Colony 8th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, classified as Residential Special Type - I.

How the guideline value of S.R. Colony 8th Street has changed

The guideline value for S.R. Colony 8th Street has undergone several revisions since 2012. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. Overall, from 2012 to 2024, there has been a 10% increase. Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 2,400 per sq.ft, placing S.R. Colony 8th Street's current value below that median.

• S.R. Colony 7th Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony Main Road: Rs 2,200 per sq.ft (2024)
• S.R. Colony 6th Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 6th Cross Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in S.R. Colony 8th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees together to Rs 1,98,000. 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 more information.

Which Sub Registrar Office covers S.R. Colony 8th Street?

The Sub Registrar Office that covers S.R. Colony 8th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When buyers and sellers agree on a sale price, the higher amount between the sale price and the guideline value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on property transactions.

Frequently asked questions

What is the current guideline value of S.R. Colony 8th Street?

The current guideline value of S.R. Colony 8th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for S.R. Colony 8th Street?

S.R. Colony 8th Street is classified as Residential Special Type - I, which is a designation used for residential areas within the region.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same amount.

Where is the Sub Registrar Office located for S.R. Colony 8th Street?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.