Guideline Value for Srinivasa Nagar 6th Cross Street

Srinivasa Nagar 6th Cross Street guideline value

The current guideline value of Srinivasa Nagar 6th 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). The land classification for this area is Residential Special Type - II.

How the guideline value of Srinivasa Nagar 6th Cross Street has changed

The guideline value for Srinivasa Nagar 6th Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This value saw a significant increase in 2012, remaining at Rs 3,300 per sq.ft. In 2023, the guideline value was again Rs 3,300 per sq.ft, and it has now risen to Rs 3,600 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 260%. The revisions for the years 2017, 2003, and 2002 have no figures recorded for this street.

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 figure for Srinivasa Nagar 6th Cross Street above that median.

• Srinivasa Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 5th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 7th Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 5th Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 8th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 6th 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 amounts to 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 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar 6th Cross Street?

The Sembiam Sub Registrar Office covers Srinivasa Nagar 6th Cross Street. The office is 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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is referenced to calculate the applicable fees. Buyers should be aware that the registration office will charge fees based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 6th Cross Street?

The current guideline value of Srinivasa Nagar 6th 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, representing an overall increase of 260% over the years.

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 SRO covers Srinivasa Nagar 6th Cross Street?

The Sembiam Sub Registrar Office covers Srinivasa Nagar 6th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for this street?

The land classification for Srinivasa Nagar 6th Cross Street is Residential Special Type - II.