Guideline Value for ThiruGnana Sambandam Street/Srinivasa Nagar

ThiruGnana Sambandam Street/Srinivasa Nagar guideline value

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

How the guideline value of ThiruGnana Sambandam Street/Srinivasa Nagar has changed

The guideline value for ThiruGnana Sambandam Street/Srinivasa Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is a 10% increase from the 2023 figure of Rs 3,500 per sq.ft. Prior to that, the 2017 revision recorded a value of Rs 2,345 per sq.ft, marking a significant increase of 49% to the 2023 value.

There are no recorded figures for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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, where the median value is Rs 2,750 per sq.ft. ThiruGnana Sambandam Street/Srinivasa Nagar's 2024 guideline value is above this median.

• Thiruganansambandam Street: Rs 3,850 per sq.ft (2024)
• Thilak Street: Rs 2,200 per sq.ft (2024)
• Thirumalai Street: Rs 1,650 per sq.ft (2024)
• Thilagar Avenue Errikkarai Main Road: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue/Bharath Street: Rs 3,300 per sq.ft (2024)
• Thilagar Avenue,Balaiah Nagar,: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in ThiruGnana Sambandam Street/Srinivasa Nagar

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, leading to a total of Rs 3,46,500. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers ThiruGnana Sambandam Street/Srinivasa Nagar?

The Sub Registrar Office covering ThiruGnana Sambandam Street/Srinivasa Nagar 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 plays a crucial role in the registration process of property transactions in Madipakkam-1. It is essential for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of ThiruGnana Sambandam Street?

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

How much has the guideline value changed in recent years?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the other streets with guideline values in Madipakkam-1?

Other streets in Madipakkam-1 include Thilak Street at Rs 2,200 per sq.ft, Thirumalai Street at Rs 1,650 per sq.ft, and several others, with values ranging from Rs 1,650 to Rs 5,500 per sq.ft.

What fees are involved in property registration?

When registering property, buyers need to pay stamp duty, which is typically 7% of the guideline value, and a registration fee of 2%. These fees are calculated based on the higher of the guideline value or the sale price.

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

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