Guideline Value for Srinivasa Nagar 1st Cross Street

Srinivasa Nagar 1st Cross Street guideline value

The current guideline value of Srinivasa Nagar 1st Cross Street is Rs 3,600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - II.

How the guideline value of Srinivasa Nagar 1st Cross Street has changed

The guideline value for Srinivasa Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a 230% rise. However, the value then decreased to Rs 2,211 per sq.ft in 2017, a drop of 33%. The most recent revision in 2024 shows a substantial increase to Rs 3,600 per sq.ft, which is a 63% rise from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by 260%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Srinivasa Nagar 1st Cross Street's 2024 figure above this median.

• Srinivasa Nagar 11th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Main Road: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 10th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Main Road (Part): Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 2nd Cross Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,600 per sq.ft, the total guideline value would be Rs 36,00,000. The stamp duty at 7% would amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000. Together, the total cost would be Rs 3,24,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Srinivasa Nagar 1st Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, preventing undervaluation for tax purposes. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 1st Cross Street?

The current guideline value of Srinivasa Nagar 1st Cross Street is Rs 3,600 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 1,000 per sq.ft to Rs 3,600 per sq.ft in 2024, reflecting an overall increase of 260%.

What is the land classification for Srinivasa Nagar 1st Cross Street?

The land classification for Srinivasa Nagar 1st Cross Street is Residential Special Type - II.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 36,00,000 would incur a stamp duty of Rs 2,52,000 at 7%.