Guideline Value for Srinivasan Street (Ward 7)

Srinivasan Street (Ward 7) guideline value

The current guideline value of Srinivasan Street (Ward 7) 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 7) has changed

The guideline value of Srinivasan Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,700 per sq.ft, which reflects an increase of 6% from the 2023 revision of Rs 1,600 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 1,072 per sq.ft, indicating a significant increase of 49% when compared to the 2023 figure. The 2012 revision also listed the value at Rs 1,600 per sq.ft, showing a decrease of 33% from the 2017 figure. 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 revisions in 2002, 2003, and 2007 for Srinivasan Street. This lack of data means that the changes in guideline value during those years remain unspecified.

Guideline values in Menambedu

In Menambedu village, 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 7) is notably above this median.

• Srinivasan Street (Ward 6): 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 7)

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, while the registration fee at 2% would be Rs 34,000, bringing the total cost to 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasan Street (Ward 7)?

The Sub Registrar Office covering Srinivasan Street (Ward 7) is the Ambattur Sub Registrar Office. The address is 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 plays a crucial role in the registration process of property transactions in Menambedu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property. This ensures that both buyers and sellers are aware of the official value assigned to the property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring transparency in the transaction. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Srinivasan Street (Ward 7)?

The current guideline value of Srinivasan Street (Ward 7) 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 2023 to Rs 1,700 per sq.ft in 2024, an increase of 6%. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012, showing a significant increase and decrease in the intervening years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft property at the current guideline value, the total guideline value is 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, totaling Rs 1,53,000.

Which office handles property registration for Srinivasan Street?

The Ambattur Sub Registrar Office handles property registration for Srinivasan Street (Ward 7). It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the guideline value determined for properties in Menambedu?

The guideline value is determined by the Registration Department's guideline value register. It reflects the official value of properties in the area and is used to calculate the stamp duty and registration fees during property transactions.