Guideline Value for Srinivasa Nagar (Ward-11)

Srinivasa Nagar (Ward-11) guideline value

The current guideline value of Srinivasa Nagar (Ward-11) is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO with a land classification of Residential Class I Type - I.

How the guideline value of Srinivasa Nagar (Ward-11) has changed

Looking at the revisions, the guideline value for Srinivasa Nagar (Ward-11) has seen changes over the years. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the value was again Rs 2,000 per sq.ft, but in the 2024 revision, it increased to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madhavaram

Madhavaram village has a total of 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value is Rs 1,600 per sq.ft, placing the guideline value of Srinivasa Nagar (Ward-11) above this median.

• Srinivasa Nagar (Ward-07): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar, Ponniammanmedu (Ward-21): Rs 1,300 per sq.ft (2024)
• Srinivasa Nagar (Periyamedu): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar Extn. (Ward-11): Rs 2,200 per sq.ft (2024)
• Srinivasa Perumal Koil st, connecting Road (Ward No.7): Rs 1,300 per sq.ft (2024)
• Srinivasa Perumal Koil Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar (Ward-11)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these charges Rs 1,98,000. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar (Ward-11)?

The Sub Registrar Office that covers Srinivasa Nagar (Ward-11) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Madhavaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is in accordance with the official rates set by the registration department.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures transparency and adherence to legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar (Ward-11)?

The current guideline value of Srinivasa Nagar (Ward-11) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, with a 10% increase noted from 2023 to 2024. The value remained unchanged from 2012 to 2023.

What is the stamp duty rate for properties in Srinivasa Nagar (Ward-11)?

The stamp duty rate for properties in Srinivasa Nagar (Ward-11) is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Srinivasa Nagar (Ward-11) located?

The Sub Registrar Office for Srinivasa Nagar (Ward-11) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 7,500 per sq.ft. For example, Srinivasa Nagar (Ward-07) and Srinivasa Nagar (Periyamedu) both have a guideline value of Rs 2,200 per sq.ft.