Guideline Value for Srinivasa Nagar 4th street

Srinivasa Nagar 4th street guideline value

The current guideline value of Srinivasa Nagar 4th street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar 4th street has changed

The guideline value for Srinivasa Nagar 4th street has seen significant changes over the years. In the 2017 revision, the value was Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision. The latest revision in 2024 saw a further increase to Rs 3,850 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from the 2017 revision to the 2023 revision was 49%, reflecting a substantial change in the guideline value over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Srinivasa Nagar 4th street above this median.

• Srinivasa Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Arivoli Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Bageerathi Nagar: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar, Balaiah Garden, Brindavan Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar, Balaiah Gardern: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 4th street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srinivasa Nagar 4th street?

The Sub Registrar Office that covers Srinivasa Nagar 4th street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role in the registration process when buying or selling property in Madipakkam-1. 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 bought or sold, the guideline value is verified to ensure that the transaction adheres to the legal requirements set by the Registration Department. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 4th street?

The current guideline value of Srinivasa Nagar 4th street is Rs 3,850 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 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, which is an overall increase of 64%.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which Sub Registrar Office is responsible for Srinivasa Nagar 4th street?

The Velacheri Sub Registrar Office is responsible for Srinivasa Nagar 4th street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the range of guideline values for other streets in Madipakkam-1?

The guideline values for other streets in Madipakkam-1 range from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft.