Guideline Value for Srinivasan Cross Street

Srinivasan Cross Street guideline value

The current guideline value of Srinivasan Cross Street is Rs 3,850 per sq.ft. It is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Srinivasan Cross Street has changed

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

In summary, the guideline value has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. The earlier revisions do not have any recorded figures for this street.

Guideline values in Madipakkam-1

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

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

Stamp duty and registration fee for property in Srinivasan 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 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, 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan Cross Street?

The Sub Registrar Office that covers Srinivasan 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 information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a critical factor during the registration of property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives its due revenue from property transactions.

When buying or selling property, it is essential to refer to the current guideline value to understand the financial implications of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will determine the applicable duties.

Frequently asked questions

What is the current guideline value of Srinivasan Cross Street?

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

How much has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% increase.

What is the median guideline value in Madipakkam-1?

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

Where is the Velacheri Sub Registrar Office located?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price. For instance, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 3,46,500.