Guideline Value for Secretariat Colony 4th Street

Secretariat Colony 4th Street guideline value

The current guideline value of Secretariat Colony 4th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Secretariat Colony 4th Street has changed

The guideline value for Secretariat Colony 4th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a total increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2017 for this street in the register.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, making the 2024 figure for Secretariat Colony 4th Street above the median.

• Secretariat Colony 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 3rd Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 5th Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 6th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 4th Street

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

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

Which Sub Registrar Office covers Secretariat Colony 4th Street?

The Sub Registrar Office that covers Secretariat Colony 4th Street is 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 further assistance.

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

The guideline value plays a crucial role during property transactions in Madambakkam. When buying or selling property, the guideline value is used to determine the amount of stamp duty and registration fees that need to be paid. This ensures that the government receives the appropriate revenue from property transactions.

Additionally, the guideline value serves as a reference point for both buyers and sellers, helping them understand the official valuation of the property in question. It is essential for all parties involved to be aware of the current guideline value to facilitate a smooth transaction process.

Frequently asked questions

What is the current guideline value of Secretariat Colony 4th Street?

The current guideline value of Secretariat Colony 4th 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 remained at Rs 2,500 per sq.ft from the 2012 revision until the 2023 revision, after which it increased to Rs 2,750 per sq.ft in 2024. Overall, from 2012 to 2024, there has been a 10% increase.

What is the land classification for Secretariat Colony 4th Street?

The land classification for Secretariat Colony 4th Street is Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the registration office for this area?

The registration office covering Secretariat Colony 4th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.