Guideline Value for Srinivasa Nagar Annex

Srinivasa Nagar Annex guideline value

The current guideline value of Srinivasa Nagar Annex, located in Madhavaram village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar Annex has changed

In the 2012 revision, the guideline value was set at Rs 2,000 per sq.ft. This figure increased to Rs 2,200 per sq.ft in the 2024 revision, marking a change of +10% from 2012 to 2024. The register does not contain figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Thus, the only revisions with figures available for Srinivasa Nagar Annex are from 2012 and 2024. The change from Rs 2,000 to Rs 2,200 reflects the latest assessment of property values in this area.

Guideline values in Madhavaram

In Madhavaram, the guideline values for 2024 range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value of Rs 2,200 per sq.ft for Srinivasa Nagar Annex is above this median.

• Srinivasa Nagar 3rd St (Ward-11): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 3rd Main Road (Ward No.11): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar Extn. (Ward-11): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 3rd cross st (Ward No.11): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 2nd st (Ward No.21): Rs 2,200 per sq.ft (2024)
• Srinivasa Nagar 2nd St (Ward-11): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srinivasa Nagar Annex?

The Sub Registrar Office covering Srinivasa Nagar Annex is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madhavaram

The guideline value is a crucial factor in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in the property market.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential components of the overall transaction costs. This ensures that both buyers and sellers are aware of the financial obligations involved in the property transfer.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Annex?

The current guideline value of Srinivasa Nagar Annex is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,000 per sq.ft in 2012 to Rs 2,200 per sq.ft in 2024, reflecting a change of +10%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the land classification of Srinivasa Nagar Annex?

Srinivasa Nagar Annex is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,98,000 based on the current guideline value.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of properties in the area.