Guideline Value for SRVS Colony

SRVS Colony guideline value

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

How the guideline value of SRVS Colony has changed

The guideline value register for SRVS Colony does not contain figures for the revisions from the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 2,200 per sq.ft.

Since there are no figures for the previous revisions, there have been no changes recorded between the revisions. The current guideline value is the only figure listed for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,750 per sq.ft, making the 2024 figure for SRVS Colony below the median.

• SRVS Colony Ext: 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

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 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.

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

Which Sub Registrar Office covers SRVS Colony?

The SRVS Colony falls under the Velacheri Sub Registrar Office located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value, as it will influence the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of SRVS Colony?

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

What is the land classification for SRVS Colony?

SRVS Colony is classified as Residential Class II Type - I.

How has the guideline value changed over the years?

The guideline value register does not contain figures for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision.

What are the other streets with similar guideline values in Madipakkam-1?

Other streets in Madipakkam-1 with a 2024 guideline value of Rs 2,200 per sq.ft include SRVS Colony Ext, SRVS Colony/Pari Colony, and Subramaniyam Nagar.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.