Guideline Value for Srinivasa Nagar 3rd Cross Street

Srinivasa Nagar 3rd Cross Street guideline value

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

How the guideline value of Srinivasa Nagar 3rd Cross Street has changed

Over the years, the guideline value for Srinivasa Nagar 3rd Cross Street has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 1,000 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a 230% rise. However, in the 2017 revision, the value dropped to Rs 2,211 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2024 has brought the guideline value up to Rs 3,600 per sq.ft, which is a 63% increase from the 2017 figure.

There are no recorded figures for the years 2023, 2003, and 2002 for this street in the register. 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 carry 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 the 2024 guideline value of Srinivasa Nagar 3rd Cross Street above this median.

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

Stamp duty and registration fee for property in Srinivasa Nagar 3rd 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 be Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Srinivasa Nagar 3rd Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

When buying or selling property in Kolathur, the guideline value is a crucial factor during the registration process. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with the legal requirements for property transactions. It also helps in accurately assessing the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 3rd Cross Street?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,600 per sq.ft in 2024, marking an overall increase of 260% since 2007.

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

For a property valued at Rs 36,00,000, the stamp duty would be Rs 2,52,000, and the registration fee would be Rs 72,000, totaling Rs 3,24,000.

Which Sub Registrar Office handles the registration for this street?

The Sembiam Sub Registrar Office located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Srinivasa Nagar 3rd Cross Street.

What is the land classification of Srinivasa Nagar 3rd Cross Street?

Srinivasa Nagar 3rd Cross Street is classified as Residential Special Type - II, indicating its designation for residential purposes.