Guideline Value for SRVS Colony Ext

SRVS Colony Ext guideline value

The current guideline value of SRVS Colony Ext is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class II Type - I.

How the guideline value of SRVS Colony Ext has changed

The guideline value for SRVS Colony Ext has seen significant changes over the years. The register shows that in 2017, the guideline value was Rs 1,340 per sq.ft. With the 2024 revision, it increased to Rs 2,200 per sq.ft, marking a change of +64% from the previous figure.

There are no figures available for the years 2023, 2012, 2007, 2003, and 2002 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing SRVS Colony Ext's 2024 figure below that median.

• SRVS Colony: Rs 2,200 per sq.ft (2024)
• SRVS Colony/Pari Colony: Rs 2,200 per sq.ft (2024)
• SRVS Ganga Kaveri Street: Rs 2,750 per sq.ft (2024)
• Sri Vidhya Nagar: Rs 2,750 per sq.ft (2024)
• Sri Sankara Nagar: Rs 1,650 per sq.ft (2024)
• Subramaniyam Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in SRVS Colony Ext

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, leading to a total of Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers SRVS Colony Ext?

The SRVS Colony Ext falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1, as it determines the minimum value at which a property can be registered. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, 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 government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of SRVS Colony Ext?

The current guideline value of SRVS Colony Ext is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a change of +64%.

Are there any years with no guideline value figures for SRVS Colony Ext?

Yes, the register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for SRVS Colony Ext.

What are the stamp duty and registration fees for property in SRVS Colony Ext?

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 property registrations in SRVS Colony Ext?

The Velacheri Sub Registrar Office handles property registrations for SRVS Colony Ext, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.