Guideline Value for S.R. Colony 3rd Cross Street

S.R. Colony 3rd Cross Street guideline value

The current guideline value of S.R. Colony 3rd 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, classified as Residential Special Type - I.

How the guideline value of S.R. Colony 3rd Cross Street has changed

Over the years, the guideline value for S.R. Colony 3rd Cross Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

To summarize the changes, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

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 value for these streets is Rs 2,400 per sq.ft, indicating that S.R. Colony 3rd Cross Street's 2024 guideline value is below this median.

• S.R. Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 2nd Main Road: Rs 2,200 per sq.ft (2024)
• S.R. Colony 4th Cross Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in S.R. Colony 3rd 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and 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 or the sale price.

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

Which Sub Registrar Office covers S.R. Colony 3rd Cross Street?

The S.R. Colony 3rd Cross Street falls under 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 a crucial factor in property transactions in Madambakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process. This value is regularly updated to reflect changes in the market and property classifications.

Frequently asked questions

What is the current guideline value of S.R. Colony 3rd Cross Street?

The current guideline value of S.R. Colony 3rd 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 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back 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 of S.R. Colony 3rd Cross Street?

S.R. Colony 3rd Cross Street is classified as Residential Special Type - I.

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

For detailed information regarding stamp duty and registration fees, you can use the stamp duty and registration fee calculator.

Which office handles registrations for S.R. Colony 3rd Cross Street?

The Selaiyur Sub Registrar Office handles registrations for S.R. Colony 3rd Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.