Guideline Value for Srinivasa Nagar 7th Cross Street

Srinivasa Nagar 7th Cross Street guideline value

The current guideline value of Srinivasa Nagar 7th 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 7th Cross Street has changed

The guideline value for Srinivasa Nagar 7th Cross 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 3,300 per sq.ft in 2012, marking a change of 230%. The latest revision in 2024 brought the value to Rs 3,600 per sq.ft, reflecting a 9% increase from the 2012 figure.

It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2017, and 2023. 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, with a median value of Rs 3,300 per sq.ft. The guideline value for Srinivasa Nagar 7th Cross Street is above this median.

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

Stamp duty and registration fee for property in Srinivasa Nagar 7th 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 amount to Rs 2,52,000, and the registration fee at 2% would be Rs 72,000, bringing the total fees together to Rs 3,24,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srinivasa Nagar 7th Cross Street?

The Sub Registrar Office that covers Srinivasa Nagar 7th 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

The guideline value plays a crucial role when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is often used as a benchmark for property transactions in the area.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand the guideline value to avoid any discrepancies during the registration of the property.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar 7th Cross Street?

The current guideline value of Srinivasa Nagar 7th 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2012, and then to Rs 3,600 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2017, and 2023.

What is the land classification for Srinivasa Nagar 7th Cross Street?

Srinivasa Nagar 7th Cross Street is classified as Residential Special Type - II. This classification impacts the guideline value and property regulations in the area.

What are the stamp duty and registration fees for a property in Srinivasa Nagar 7th Cross Street?

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. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers the area of Srinivasa Nagar 7th Cross Street?

The Sembiam Sub Registrar Office covers Srinivasa Nagar 7th Cross Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.