Guideline Value for Srinivasa Nagar Kamaraj Ist Cross and Extension

Srinivasa Nagar Kamaraj Ist Cross and Extension guideline value

The current guideline value of Srinivasa Nagar Kamaraj Ist Cross and Extension is Rs 5,500 per sq.ft, effective from 1 July 2024. This property is located in Mugappair village, under the Konnur Sub Registrar Office (SRO), and falls under the Residential Class I Type - I land classification.

How the guideline value of Srinivasa Nagar Kamaraj Ist Cross and Extension has changed

The guideline value has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, there was a decrease in the value to Rs 3,350 per sq.ft in 2017. Following this, the value rose sharply to Rs 5,000 per sq.ft in 2023, and then to Rs 5,500 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 267%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing the guideline value of Srinivasa Nagar Kamaraj Ist Cross and Extension below this median.

• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar: Rs 5,500 per sq.ft (2024)
• Sribalaji Avenue: Rs 7,100 per sq.ft (2024)
• Sparton Nagar: Rs 7,100 per sq.ft (2024)
• Sudharsan Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Kamaraj Ist Cross and Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, making the total fees Rs 4,95,000. Duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Kamaraj Ist Cross and Extension?

The Konnur Sub Registrar Office covers Srinivasa Nagar Kamaraj Ist Cross and Extension. The office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Mugappair. It serves as a basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps both parties understand the minimum value at which the property can be registered. This ensures transparency and compliance with local regulations during the sale process.

Frequently asked questions

What is the current guideline value of Srinivasa Nagar Kamaraj Ist Cross and Extension?

The current guideline value of Srinivasa Nagar Kamaraj Ist Cross and Extension is Rs 5,500 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,500 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 267% over these years.

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

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles the registration for this property?

The Konnur Sub Registrar Office handles the registration for properties in Srinivasa Nagar Kamaraj Ist Cross and Extension, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the range of guideline values in Mugappair?

The guideline values in Mugappair range from Rs 3,300 to Rs 8,800 per sq.ft, with a median value of Rs 7,100 per sq.ft.