Guideline Value for Secretariat Colony 5th Cross Street

Secretariat Colony 5th Cross Street guideline value

The current guideline value of Secretariat Colony 5th 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 5th Cross Street has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision is from 2002, but the register has no figure for this street in that year. The next revision in 2003 also shows no figure. In 2007, there is again no figure available, followed by the 2012 revision, which set the guideline value at Rs 2,500 per sq.ft. This was an increase from the previous years, marking the first recorded figure.

The most recent revision in 2024 increased the guideline value to Rs 2,750 per sq.ft, reflecting a 10% rise from the 2012 figure. The register does not have figures for the revisions in 2017 and 2023 for this street.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO, with the 2024 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, and the 2024 value for Secretariat Colony 5th Cross Street is above this median.

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

Stamp duty and registration fee for property in Secretariat Colony 5th 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, totaling Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony 5th Cross Street?

The Sub Registrar Office that covers Secretariat Colony 5th Cross 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 more information.

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

The guideline value is a crucial factor when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the necessary fees, which are based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Secretariat Colony 5th Cross Street?

The current guideline value of Secretariat Colony 5th 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 for this street was Rs 2,500 per sq.ft in 2012 and increased to Rs 2,750 per sq.ft in 2024, marking a 10% rise. There are no figures available for the revisions in 2002, 2003, 2007, 2017, and 2023.

What are the guideline values for other streets in Madambakkam?

Other streets in Madambakkam also have a guideline value of Rs 2,750 per sq.ft as of 2024. This includes streets like Secretariat Colony 4th Street, Secretariat Colony 5th Street, and others.

How is stamp duty calculated for properties in this area?

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

Where can I find the Sub Registrar Office for this street?

The Selaiyur Sub Registrar Office covers Secretariat Colony 5th Cross Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073. You can find more information through the provided link.