Guideline Value for Srinivasa Nagar Arivoli Street

Srinivasa Nagar Arivoli Street guideline value

The current guideline value of Srinivasa Nagar Arivoli Street is Rs 3,850 per sq.ft. This street is located in Madipakkam-1 village and falls under the Velacheri SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srinivasa Nagar Arivoli Street has changed

The guideline value for Srinivasa Nagar Arivoli Street has seen several revisions over the years. The 2017 revision recorded a value of Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent 2024 revision set the value at Rs 3,850 per sq.ft, which is a further increase of 10% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are a total of 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft as of the 2024 revision. The median guideline value for the village is Rs 2,750 per sq.ft, placing Srinivasa Nagar Arivoli Street above this median.

• Srinivasa Nagar Bageerathi Nagar: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar, Balaiah Garden, Brindavan Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar, Balaiah Gardern: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Balaji Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Brindavan 4th Cross Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Brindavan Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Arivoli Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, resulting in a total of Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Arivoli Street?

The Sub Registrar Office that covers Srinivasa Nagar Arivoli Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is an essential factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. It is crucial for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Arivoli Street?

The current guideline value of Srinivasa Nagar Arivoli Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over this period.

What are the stamp duty rates applicable in this area?

The stamp duty rate applicable in this area is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Sub Registrar Office for Srinivasa Nagar Arivoli Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Srinivasa Nagar Arivoli Street?

The land classification for Srinivasa Nagar Arivoli Street is Residential Class I Type - I, indicating its suitability for residential development.