Guideline Value for Secretariat Colony 1st Cross Street

Secretariat Colony 1st Cross Street guideline value

The current guideline value of Secretariat Colony 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Secretariat Colony 1st Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decline of 33%. However, the latest revision in 2024 saw a significant increase to Rs 2,750 per sq.ft, which represents a rise of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft, with a median value of Rs 2,400 per sq.ft. The guideline value for Secretariat Colony 1st Cross Street is above this median.

• Secretariat Colony 1st Main Road: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 1st Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 2nd Main Road: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 2nd Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 3rd Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total of Rs 2,47,500. It's important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony 1st Cross Street?

The Secretariat Colony 1st Cross Street falls under 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 details.

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

The guideline value is a crucial factor when registering a property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. This value is essential for both the buyer and seller to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Secretariat Colony 1st Cross Street?

The current guideline value of Secretariat Colony 1st Cross Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 2,500 per sq.ft in 2012, decreasing to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,750 per sq.ft in 2024.

What is the land classification for this street?

Secretariat Colony 1st Cross Street is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I calculate the stamp duty and registration fees?

You can calculate the stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which Sub Registrar Office covers this area?

The Selaiyur Sub Registrar Office covers Secretariat Colony 1st Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.