Guideline Value for S.R. Colony Street

S.R. Colony Street guideline value

The current guideline value of S.R. Colony Street in Madambakkam village, under the Selaiyur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Special Type - I.

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

Looking at the revisions, the guideline value for S.R. Colony Street has seen changes primarily between 2012 and 2024. The 2012 revision was Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision, where it was still Rs 2,000 per sq.ft. However, in the 2024 revision, the value increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

In summary, the guideline value for S.R. Colony Street has increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a 10% overall increase. The register has no figures for the revisions in 2002, 2003, 2007, and 2017.

Guideline values in Madambakkam

In Madambakkam, there are a total of 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 for these streets is Rs 2,400 per sq.ft, placing S.R. Colony Street's 2024 figure below this median.

• S.R. Colony Main Road: Rs 2,200 per sq.ft (2024)
• S.R. Colony 8th Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 7th Street: Rs 2,200 per sq.ft (2024)
• S.R. Colony 6th 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 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 details, you can use the stamp duty and registration fee calculator.

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

The S.R. Colony 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 information.

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

The guideline value plays a crucial role in property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of S.R. Colony 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 remained at Rs 2,000 per sq.ft from 2012 to 2023 and increased to Rs 2,200 per sq.ft in 2024. This represents a 10% increase from the previous year.

What is the median guideline value in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft. S.R. Colony Street's 2024 figure is below this median.

What are the stamp duty and registration fees for a property in S.R. Colony Street?

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.

Which office handles registrations for S.R. Colony Street?

The Selaiyur Sub Registrar Office handles registrations for S.R. Colony Street, located at No.36, Bharathmatha Salai, Chennai - 600 073.