Guideline Value for Srinivasa Nagar 7th Street

Srinivasa Nagar 7th Street guideline value

The current guideline value of Srinivasa Nagar 7th 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 with a land classification of Residential Special Type - I.

How the guideline value of Srinivasa Nagar 7th Street has changed

The guideline value for Srinivasa Nagar 7th Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,000 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in the 2012 revision. This marked a substantial increase of 300%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which raised it to Rs 4,400 per sq.ft, reflecting a 10% increase.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 340%. It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2017 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 7th Street above the median.

• Srinivasa Nagar 7th Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 6th 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 7th 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, bringing the total to Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Srinivasa Nagar 7th Street?

The Sub Registrar Office that covers Srinivasa Nagar 7th 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 in the registration process of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When a buyer or seller engages in a property transaction, the guideline value helps ensure that the transaction is registered at a fair value. This process is essential for maintaining transparency and accountability in real estate dealings.

Frequently asked questions

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

The current guideline value of Srinivasa Nagar 7th 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 seen significant changes, increasing from Rs 1,000 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 340%.

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

Srinivasa Nagar 7th Street is classified as Residential Special Type - I.

Where can I find the registration office for Srinivasa Nagar 7th Street?

The registration office for Srinivasa Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Srinivasa Nagar 7th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 4,400 per sq.ft would incur a stamp duty of Rs 3,08,000.