Guideline Value for Adhivasi Colony

Adhivasi Colony guideline value

The current guideline value of Adhivasi Colony, located in Moonramkattalai village under the Kunrathur SRO, is Rs 650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Adhivasi Colony has changed

Over the years, the guideline value of Adhivasi Colony has seen several revisions. The guideline value was Rs 600 per sq.ft in 2023, which increased to Rs 650 per sq.ft in the 2024 revision, marking an increase of 8%. The value in 2017 was Rs 402 per sq.ft, reflecting a significant increase of 49% by 2023. In 2012, the value was Rs 600 per sq.ft, which decreased by 33% to Rs 402 per sq.ft in 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register has no figures for the years 2002, 2003, and 2007 regarding this street. The 2012 revision was Rs 600 per sq.ft, and the 2017 revision was Rs 402 per sq.ft. The changes over these revisions highlight the fluctuations in the guideline value over time.

Guideline values in Moonramkattalai

In Moonramkattalai, there are 43 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 650 to Rs 2,750 per sq.ft. The median value among these streets is Rs 650 per sq.ft, which is the same as the 2024 figure for Adhivasi Colony.

• Agneswarar koil Street: Rs 650 per sq.ft (2024)
• Balaji Nagar: Rs 650 per sq.ft (2024)
• Eswarar koil Street: Rs 650 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Kalvai Street (Kalvai karai Street): Rs 650 per sq.ft (2024)
• Kamarajar Nagar: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Adhivasi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 650 per sq.ft, the total guideline value would be Rs 6,50,000. The stamp duty at 7% would amount to Rs 45,500, and the registration fee at 2% would be Rs 13,000, bringing the total fees to Rs 58,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Adhivasi Colony?

The Sub Registrar Office that covers Adhivasi Colony is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Moonramkattalai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers and sellers should be aware of the guideline value to ensure compliance with registration requirements and to avoid any potential legal issues.

Frequently asked questions

What is the current guideline value of Adhivasi Colony?

The current guideline value of Adhivasi Colony is Rs 650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 650 per sq.ft in 2024, an increase of 8%. It was Rs 402 per sq.ft in 2017, which shows a significant increase of 49% by 2023.

What is the land classification for Adhivasi Colony?

Adhivasi Colony is classified as Residential Class I Type - I, indicating its suitability for residential development.

Which office handles property registration in Adhivasi Colony?

The Kunrathur Sub Registrar Office handles property registration for Adhivasi Colony, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for properties in Adhivasi Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 6,50,000, the stamp duty would be Rs 45,500 at a rate of 7%.