Guideline Value for Secretariat Colony 5th Street

Secretariat Colony 5th Street guideline value

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

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This represents an increase of 10% to the current value of Rs 2,750 per sq.ft, effective from 1 July 2024. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

From 2012 to 2024, the guideline value increased from Rs 2,500 to Rs 2,750 per sq.ft. This change reflects a steady adjustment in the guideline value over the years, with no recorded figures for the intervening years.

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. The median guideline value for these streets is Rs 2,400 per sq.ft, placing the 2024 guideline value of Secretariat Colony 5th Street above this median.

• Secretariat Colony 5th Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 6th Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 4th Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 6th Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 4th Cross Street: Rs 2,750 per sq.ft (2024)
• Secretariat Colony 7th Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Secretariat Colony 5th 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, leading to a total of 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 detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Secretariat Colony 5th Street?

The Sub Registrar Office that covers Secretariat Colony 5th 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, within 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 during the registration of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. 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 Street?

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

What is the classification of Secretariat Colony 5th Street?

Secretariat Colony 5th Street is classified as Commercial Class I Type - I. This classification can influence the guideline value and other regulatory aspects of property transactions.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2%. For a property valued at Rs 27,50,000, the total stamp duty and registration fees would amount to Rs 2,47,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. This office handles the registration of properties in the area.