Guideline Value for Srinivasa Nagar 3rd Street

Srinivasa Nagar 3rd Street guideline value

The current guideline value of Srinivasa Nagar 3rd Street is Rs 4,400 per sq.ft. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - I.

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

The guideline value for Srinivasa Nagar 3rd Street has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 1,000 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a 300% rise. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which also did not alter the figure.

The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values for 2024 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 figure for Srinivasa Nagar 3rd Street above this median.

• Srinivasa Nagar 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 4th Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 3rd Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for these fees would be Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar 3rd Street?

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

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Srinivasa Nagar 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking a total increase of 340% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Srinivasa Nagar 3rd Street?

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

What is the land classification for Srinivasa Nagar 3rd Street?

The land classification for Srinivasa Nagar 3rd Street is Residential Special Type - I, indicating its designated use for residential purposes.