Guideline Value for Srinivasa Nagar Thirumoolar Street

Srinivasa Nagar Thirumoolar Street guideline value

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

How the guideline value of Srinivasa Nagar Thirumoolar Street has changed

The guideline value for Srinivasa Nagar Thirumoolar Street has undergone several revisions over the years. The register has no figure for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft. With the 2024 revision, effective from 1 July 2024, this value increased to Rs 3,850 per sq.ft, marking a change of +10% from the previous year.

This street's current guideline value reflects an upward adjustment in line with the revisions in the area, indicating the evolving property landscape. The 2024 figure is positioned above the median guideline value of Rs 2,750 per sq.ft for the 1,823 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 in the 2024 revision. Srinivasa Nagar Thirumoolar Street's guideline value of Rs 3,850 per sq.ft is above the median value. Below are some other streets in Madipakkam-1 with their respective guideline values:

• Srinivasa Nagar Thirunanasambandar Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Thirupavai Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Thirupugazh Street: Rs 3,850 per sq.ft (2024)
• Srinivasan Cross Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Main Road, Kuberan Street: Rs 3,850 per sq.ft (2024)
• Srinivasan Nagar/Bharath Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Nagar Thirumoolar 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 is charged at 7%, which totals Rs 2,69,500, while the registration fee is set at 2%, amounting to Rs 77,000. The total cost for stamp duty and registration would be 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Thirumoolar Street?

The Sub Registrar Office that covers Srinivasa Nagar Thirumoolar 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 a crucial factor in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction aligns with the official rates set by the Registration Department. This helps maintain transparency and standardization in property transactions within the area.

Frequently asked questions

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

The current guideline value of Srinivasa Nagar Thirumoolar Street is Rs 3,850 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value for Srinivasa Nagar Thirumoolar Street has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. The register has no figures for the years 2002, 2003, 2007, 2012, and 2017.

What is the range of guideline values in Madipakkam-1?

In Madipakkam-1, the guideline values range from Rs 1,650 to Rs 5,500 per sq.ft as per the 2024 revision. The median value for the area is Rs 2,750 per sq.ft.

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

The stamp duty for a property in Srinivasa Nagar Thirumoolar Street is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees amount to Rs 3,46,500.

Which office handles property registrations for this street?

The Velacheri Sub Registrar Office handles property registrations for Srinivasa Nagar Thirumoolar Street. It is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.