Guideline Value for Srinivasa 1st Lane

Srinivasa 1st Lane guideline value

The current guideline value of Srinivasa 1st Lane, located in Kodungaiyur village under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Srinivasa 1st Lane has changed

The guideline value for Srinivasa 1st Lane has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and then to Rs 1,900 per sq.ft in the 2024 revision.

In terms of percentage changes, there was a -33% drop from 2012 to 2017, followed by a remarkable +49% increase from 2017 to 2023. The most recent change from 2023 to 2024 reflects a +6% increase. Overall, from 2012 to 2024, the guideline value has increased by +6%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, placing Srinivasa 1st Lane's 2024 figure below that median.

• Srinivasa 2nd Lane: Rs 1,900 per sq.ft (2024)
• Srinivasan Street: Rs 2,700 per sq.ft (2024)
• Srinivasan Street (Krishnamoorthy Nagar): Rs 2,700 per sq.ft (2024)
• Srinivasa Perumal Koil Street: Rs 2,200 per sq.ft (2024)
• Srinivasapuram: Rs 2,700 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa 1st Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total fees to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa 1st Lane?

The Sub Registrar Office that covers Srinivasa 1st Lane is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Kodungaiyur. It is used to determine 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 considered to ensure that the transaction is documented correctly. This helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Srinivasa 1st Lane?

The current guideline value of Srinivasa 1st Lane is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What is the land classification of Srinivasa 1st Lane?

Srinivasa 1st Lane is classified as Residential Class III Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for a property here?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,71,000, based on the guideline value of Rs 19,00,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, and it covers the area of Srinivasa 1st Lane.