Guideline Value for S.R. Colony 2nd Cross Street

S.R. Colony 2nd Cross Street guideline value

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

How the guideline value of S.R. Colony 2nd Cross Street has changed

Over the years, the guideline value for S.R. Colony 2nd Cross Street has seen several revisions. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, an increase from Rs 2,000 per sq.ft in 2023. This represents a change of +10%. Prior to that, in 2017, the guideline value was Rs 1,340 per sq.ft. The increase from 2017 to 2023 was +49%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Looking further back, the 2012 revision also recorded a value of Rs 2,000 per sq.ft, which was a decrease of -33% from the 2017 value. Overall, from 2012 to 2024, the guideline value has increased by +10%.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in the village is Rs 2,400 per sq.ft, making the 2024 guideline value of S.R. Colony 2nd Cross Street below that median.

• S.R. Colony 1st Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 2nd Main Road: Rs 2,200 per sq.ft (2024)
• S.R. Colony 1st Main Road: Rs 2,200 per sq.ft (2024)
• S.R. Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 1st Cross Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 3rd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in S.R. Colony 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the 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 S.R. Colony 2nd Cross Street?

The S.R. Colony 2nd Cross Street is covered by 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 plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is essential for both buyers and sellers to understand the financial implications of the transaction. It helps in assessing the costs involved in registration and ensures compliance with legal requirements.

Frequently asked questions

What is the current guideline value of S.R. Colony 2nd Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, with a significant increase of +49% from 2017 to 2023 and a +10% increase from 2023 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 in fees.

Which office handles registrations for S.R. Colony 2nd Cross Street?

The Selaiyur Sub Registrar Office handles registrations for S.R. Colony 2nd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the land classification for S.R. Colony 2nd Cross Street?

S.R. Colony 2nd Cross Street is classified as Residential Special Type - I, indicating its suitability for residential purposes.