Guideline Value for Srinivasa Nagar Thirupugazh Street

Srinivasa Nagar Thirupugazh Street guideline value

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

According to the guideline value register, there are no figures available for Srinivasa Nagar Thirupugazh Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was revised to Rs 3,500 per sq.ft in 2023, and it has increased to Rs 3,850 per sq.ft in 2024, marking a change of +10%.

The 2024 revision reflects the current market conditions and places the street's value above the median for Madipakkam-1. The previous revision in 2023 was Rs 3,500 per sq.ft, indicating a significant increase in the guideline value over the last year.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, and Srinivasa Nagar Thirupugazh Street's 2024 figure is notably above this median.

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

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

For a 1,000 sq.ft plot at the current rate, 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, totaling Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

To calculate your own fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Nagar Thirupugazh Street?

The Sub Registrar Office that covers Srinivasa Nagar Thirupugazh 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 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, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs reflect the official value set by the registration department.

Frequently asked questions

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

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

How much has the guideline value changed recently?

In 2023, the guideline value was Rs 3,500 per sq.ft, which increased to Rs 3,850 per sq.ft in 2024, representing a change of +10%.

What is the land classification for this street?

The land classification for Srinivasa Nagar Thirupugazh Street is Residential Class I Type - I.

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

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

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 38,50,000, the stamp duty at 7% would be Rs 2,69,500.