Guideline Value

Corporate

Guideline Value for Srinivasa Nagar Extension

₹3850/sq.ft.

The guideline value for Srinivasa Nagar Extension in Madipakkam-1 village (Velacheri SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Madipakkam-1

Village

Velacheri

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042
044-22553736
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Srinivasa Nagar Extension

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Srinivasa Nagar Extension guideline value

The current guideline value of Srinivasa Nagar Extension is Rs 3,850 per sq.ft, effective from 1 July 2024. This area falls under Madipakkam-1 village and is classified as Residential Class I Type - I. The guideline value is determined by the Velacheri Sub Registrar Office (SRO).

How the guideline value of Srinivasa Nagar Extension has changed

Over the years, the guideline value for Srinivasa Nagar Extension has seen several revisions. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 3,500 per sq.ft, and the most recent 2024 revision increased it to Rs 3,850 per sq.ft, marking a change of +10% from the previous year.

Prior to the 2023 revision, the register does not provide figures for this street. The 2024 figure of Rs 3,850 per sq.ft is higher than the median guideline value of Rs 2,750 per sq.ft for the 1823 streets in Madipakkam-1 under the Velacheri SRO.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft. The 2024 figure for Srinivasa Nagar Extension is above the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

Stamp duty and registration fee for property in Srinivasa Nagar Extension

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the 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, together totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Extension?

The Sub Registrar Office that covers Srinivasa Nagar Extension 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 information.

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

The guideline value is a crucial factor in property transactions in Madipakkam-1. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Extension?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, which is a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of land in Srinivasa Nagar Extension?

Srinivasa Nagar Extension is classified as Residential Class I Type - I, which indicates its designation for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Velacheri Sub Registrar Office located?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042, and it serves the Srinivasa Nagar Extension area.