Guideline Value for Srinivasa Nagar Sakthi Street

Srinivasa Nagar Sakthi Street guideline value

The current guideline value of Srinivasa Nagar Sakthi Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mugappair village, under the Konnur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Nagar Sakthi Street has changed

The guideline value for Srinivasa Nagar Sakthi Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 750 per sq.ft. This increased to Rs 1,500 per sq.ft in 2007, marking a significant rise of 100%. The 2012 revision saw a further increase to Rs 5,000 per sq.ft, reflecting a growth of 233%. However, in 2017, the value decreased to Rs 3,350 per sq.ft, a drop of 33%. The 2023 revision set the value at Rs 5,000 per sq.ft, which then increased to Rs 5,500 per sq.ft in the 2024 revision, a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 633%. The register has no figure for the year 2002 for this street.

Guideline values in Mugappair

In Mugappair, there are 224 streets under the Konnur SRO that carry a 2024 guideline value 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, indicating that the guideline value for Srinivasa Nagar Sakthi Street is below this median.

• Srinivasa Nagar Kamaraj Ist Cross and Extension: 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 Sakthi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Sakthi Street?

The Sub Registrar Office that covers Srinivasa Nagar Sakthi Street is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai, Chennai registration zone.

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 a crucial factor during property registration in Mugappair. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is assessed to ensure that the transaction is recorded accurately. This helps maintain transparency and legality in property transactions.

Frequently asked questions

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

The current guideline value of Srinivasa Nagar Sakthi Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2003 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 633% over this period.

What is the registration office for Srinivasa Nagar Sakthi Street?

The Konnur Sub Registrar Office covers Srinivasa Nagar Sakthi Street, located at Sub Register Office, Villivakkam Panchat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in this area is 7%, which is calculated based on the higher of the guideline value or the sale price.

What are the other streets in Mugappair with similar guideline values?

Other streets in Mugappair with a guideline value of Rs 5,500 per sq.ft include Srinivasa Nagar Kamaraj Ist Cross and Extension, Srinivasa Nagar Anna Street & 1st, 2nd and 3rd Cross Street, and Srinivasa Nagar.