Guideline Value for SRINIVASAN IYENGAR STREET

Srinivasan Iyengar Street guideline value

The current guideline value of Srinivasan Iyengar Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Srinivasan Iyengar Street has changed

The guideline value for Srinivasan Iyengar Street has seen significant changes over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in 2012, marking a 500% rise. However, this value decreased to Rs 4,020 per sq.ft in 2017, reflecting a decline of 33%. The guideline value then rose to Rs 6,000 per sq.ft in 2023, before reaching the current figure of Rs 6,600 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Mambalam

Mambalam has a total of 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 the median value being Rs 6,600 per sq.ft. The guideline value for Srinivasan Iyengar Street aligns with this median.

• Srinivasan Iyengar 2 Nd Street: Rs 4,400 per sq.ft (2024)
• Srinivasan Iyengar 1st Street: Rs 4,400 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. Together, the total cost for these fees would be Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Srinivasan Iyengar Street?

The Sub Registrar Office that covers Srinivasan Iyengar 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 a crucial factor in the registration process when buying or selling property in Mambalam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official value set by the government.

When a property is registered, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and fairly in the official records.

Frequently asked questions

What is the current guideline value of Srinivasan Iyengar Street?

The current guideline value of Srinivasan Iyengar Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 560% over this period.

What are the stamp duty and registration fees for a property on this street?

For a 1,000 sq.ft property, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office handles registrations for this area?

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

Are there other streets in Mambalam with guideline values?

Yes, there are other streets in Mambalam under the Thiyagaraya nagar SRO, with guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft.