Guideline Value for SRINIVASAN IYENGAR 1ST STREET

Srinivasan Iyengar 1st Street guideline value

The current guideline value of Srinivasan Iyengar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - III.

How the guideline value of Srinivasan Iyengar 1st Street has changed

The guideline value for Srinivasan Iyengar 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017. The next revision in 2023 saw a significant increase to Rs 4,000 per sq.ft, followed by the current guideline value of Rs 4,400 per sq.ft in 2024. The register has no figure for this street in 2002 and 2003.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a 300% increase; from 2012 to 2017, the value decreased by 33%; from 2017 to 2023, it rose by 49%; and from 2023 to 2024, there was a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 340%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value for Srinivasan Iyengar 1st Street is below this median.

• Srinivasan Iyengar 2 Nd Street: Rs 4,400 per sq.ft (2024)
• Srinivasan Iyengar Street: Rs 6,600 per sq.ft (2024)
• Srinivasan Street: Rs 7,700 per sq.ft (2024)
• Srirampet: Rs 7,700 per sq.ft (2024)
• Station Road: Rs 12,100 per sq.ft (2024)
• Station View Road: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Iyengar 1st Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasan Iyengar 1st Street?

The Sub Registrar Office that covers Srinivasan Iyengar 1st Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the associated costs. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from these transactions.

Frequently asked questions

What is the current guideline value of Srinivasan Iyengar 1st Street?

The current guideline value of Srinivasan Iyengar 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 340% over this period.

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

For a property valued at Rs 44,00,000, the stamp duty is Rs 3,08,000 and the registration fee is Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office covers this street?

The Thiyagaraya nagar Sub Registrar Office covers Srinivasan Iyengar 1st Street, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

What is the land classification of Srinivasan Iyengar 1st Street?

Srinivasan Iyengar 1st Street is classified as Residential Class III Type - III.