Guideline Value for Sri Devi Nagar 6th Street

Sri Devi Nagar 6th Street guideline value

The current guideline value of Sri Devi Nagar 6th Street is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - I.

How the guideline value of Sri Devi Nagar 6th Street has changed

The guideline value for Sri Devi Nagar 6th Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 1,500 per sq.ft. This figure remained unchanged until 2017, when it decreased to Rs 1,005 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, raising the value to Rs 1,500 per sq.ft. The most recent revision in 2024 saw a further increase of 7%, bringing the current guideline value to Rs 1,600 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madambakkam

In Madambakkam, there are a total of 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, indicating that the 2024 guideline value of Sri Devi Nagar 6th Street is below that median.

• Sri Devi Nagar 5th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 7th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 4th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 8th Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 3rd Street: Rs 1,600 per sq.ft (2024)
• Sri Devi Nagar 9th Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Nagar 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Devi Nagar 6th Street?

The Sub Registrar Office that covers Sri Devi Nagar 6th 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 in property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration of property sales. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in assessing the official value of the property, which is essential for tax purposes. It is important to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Devi Nagar 6th Street?

The current guideline value of Sri Devi Nagar 6th Street is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Sri Devi Nagar 6th Street?

Sri Devi Nagar 6th Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000, and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles property registrations for Sri Devi Nagar 6th Street?

The Selaiyur Sub Registrar Office handles property registrations for Sri Devi Nagar 6th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.