Guideline Value for Srinivasa Nagar 6th Street

Srinivasa Nagar 6th Street guideline value

The current guideline value of Srinivasa Nagar 6th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. 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 6th Street has changed

The guideline value for Srinivasa Nagar 6th Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012. This marked a 300% increase. The value remained unchanged at Rs 4,000 per sq.ft until the next revision in 2023, when it was raised to Rs 4,400 per sq.ft, reflecting a 10% increase.

From 2007 to 2024, the overall increase in guideline value is 340%. It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register 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, with a median value of Rs 3,300 per sq.ft. The guideline value for Srinivasa Nagar 6th Street is above this median.

• Srinivasa Nagar 6th Cross Street: Rs 3,600 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 Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 9th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar 6th 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 would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar 6th Street?

The Sub Registrar Office that covers Srinivasa Nagar 6th 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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of Srinivasa Nagar 6th 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 increased 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 is the land classification for Srinivasa Nagar 6th Street?

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

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 Srinivasa Nagar 6th Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at 7%.