Guideline Value for Srinivasan 1st Cross Street

Srinivasan 1st Cross Street guideline value

The current guideline value of Srinivasan 1st Cross Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Srinivasan 1st Cross Street has changed

The guideline value for Srinivasan 1st Cross Street has seen several revisions over the years. The most recent revision in 2024 set the guideline value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 3,500 per sq.ft. The register has no figure for this street in the years 2017, 2012, 2007, 2003, and 2002.

Prior to the 2023 revision, the last recorded value was from 2023 at Rs 3,500 per sq.ft. The revisions for the years before 2023 do not provide any figures for this street, indicating a lack of recorded values in those years.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,750 per sq.ft, positioning Srinivasan 1st Cross Street above this median value.

• Srinivasa Nagar: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar 4th street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar 5th Cross Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar 5th Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Arivoli Street: Rs 3,850 per sq.ft (2024)
• Srinivasa Nagar Bageerathi Nagar: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total fees together to 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan 1st Cross Street?

The Sub Registrar Office that covers Srinivasan 1st Cross 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 plays a crucial role during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable duties and fees, which are essential for the legal transfer of ownership. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Srinivasan 1st Cross Street?

The current guideline value of Srinivasan 1st Cross Street 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 increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002.

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

For a property valued at 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. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office handles transactions for this street?

The Velacheri Sub Registrar Office handles transactions for Srinivasan 1st Cross Street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the median guideline value in Madipakkam-1?

The median guideline value in Madipakkam-1 is Rs 2,750 per sq.ft. Srinivasan 1st Cross Street's current guideline value is above this median.