Guideline Value for Srinivasan Street (Ward 6)

Srinivasan Street (Ward 6) guideline value

The current guideline value of Srinivasan Street (Ward 6) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village under the Ambattur SRO, classified as Residential Special Type - I.

How the guideline value of Srinivasan Street (Ward 6) has changed

The guideline value for Srinivasan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then dropped to Rs 1,072 per sq.ft in 2017, marking a decrease of 33%. Following this, the value increased significantly to Rs 1,600 per sq.ft in 2023 and further rose to Rs 1,700 per sq.ft in 2024, reflecting a 6% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 6%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Menambedu

In Menambedu, there are 171 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 6,680 per sq.ft, with a median value of Rs 1,003 per sq.ft. The guideline value for Srinivasan Street (Ward 6) is above this median.

• Srinivasan Street (Ward 7): Rs 1,700 per sq.ft (2024)
• Sri Raja Rajaeswari Nagar: Rs 1,002 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,001 per sq.ft (2024)
• Sri sastha Nagar: Rs 1,002 per sq.ft (2024)
• Sri Devi Karumariamman Nagar: Rs 1,002 per sq.ft (2024)
• Sri Vinayagar Nagar: Rs 1,002 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Street (Ward 6)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, leading to a total of Rs 1,53,000. 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 Street (Ward 6)?

The Sub Registrar Office that covers Srinivasan Street (Ward 6) is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Menambedu

The guideline value is a crucial factor in property transactions in Menambedu, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Srinivasan Street (Ward 6)?

The current guideline value of Srinivasan Street (Ward 6) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then increased to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Srinivasan Street (Ward 6)?

Srinivasan Street (Ward 6) is classified as Residential Special Type - I under the guideline value register.

What are the stamp duty and registration fees for a property in Srinivasan Street (Ward 6)?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Where can I find the Sub Registrar Office for Srinivasan Street (Ward 6)?

The Sub Registrar Office for Srinivasan Street (Ward 6) is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.