Guideline Value for Srinivasa Colony Nagar

Srinivasa Colony Nagar guideline value

The current guideline value of Srinivasa Colony Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Mangadu -A village and falls under the Kunrathur SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Srinivasa Colony Nagar has changed

The guideline value for Srinivasa Colony Nagar has seen several revisions over the years. The 2017 revision set the value at Rs 938 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the value to Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value in this area is Rs 1,870 per sq.ft, placing Srinivasa Colony Nagar's 2024 figure below that median.

• Srinivasa Nagar: Rs 1,540 per sq.ft (2024)
• Sri MuthuSwamy Avenue: Rs 1,540 per sq.ft (2024)
• Sri Murugan Nagar: Rs 1,540 per sq.ft (2024)
• Sri Meenatchi Nagar: Rs 1,870 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 1,540 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Colony Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Colony Nagar?

The Sub Registrar Office that covers Srinivasa Colony Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately in the official register. This helps maintain transparency in property transactions and ensures that the correct fees are collected by the government.

Frequently asked questions

What is the current guideline value of Srinivasa Colony Nagar?

The current guideline value of Srinivasa Colony Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 938 per sq.ft in 2017 to Rs 1,540 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the registration office for Srinivasa Colony Nagar?

The registration office for Srinivasa Colony Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Are there any years without guideline value figures for this street?

Yes, there are no figures available for the years 2002, 2003, 2007, and 2012 for Srinivasa Colony Nagar.