Guideline Value

Corporate

Guideline Value for BELL COLONY

₹2750/sq.ft.

The guideline value for Bell Colony in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹900 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹90 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹77 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Bell Colony

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Bell Colony guideline value

The current guideline value of Bell Colony, located in Medavakkam village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Bell Colony has changed

The guideline value of Bell Colony has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 77 per sq.ft. This figure increased to Rs 90 per sq.ft in 2003, marking a 17% rise. The 2007 revision saw a significant jump to Rs 900 per sq.ft, reflecting a 900% increase. However, the value decreased to Rs 2,500 per sq.ft in 2012, which was a decline of 33%.

In the subsequent revisions, the guideline value rose to Rs 1,675 per sq.ft in 2017, representing a 49% increase from the previous figure. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,750 per sq.ft, which is a 10% rise from 2023. Overall, from 2002 to 2024, the guideline value has increased by 3,471%.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Bell Colony's 2024 figure above this median.

Stamp duty and registration fee for property in Bell Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value is Rs 27,50,000. The stamp duty is charged at 7%, amounting to Rs 1,92,500, and the registration fee at 2% is Rs 55,000. Together, the total cost for stamp duty and registration fee would be Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Bell Colony?

The Sub Registrar Office that covers Bell Colony is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Medavakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, it is essential to be aware of the current guideline value, as it directly impacts the overall cost involved in the transaction. Buyers should ensure that the sale price reflects the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Bell Colony?

The current guideline value of Bell Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 77 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 3,471% over the years.

What is the land classification of Bell Colony?

Bell Colony is classified as Commercial Class I Type - III under the Chennai South Joint I SRO.

What are the other streets in Medavakkam with their guideline values?

Other streets in Medavakkam include Bell Nagar, Bell Nagar 1st Main Road, Bell Nagar 2nd Cross, Bell Nagar 2nd Main Road, Bell Nagar Main Road, and Bhagavathi Nagar, with values ranging from Rs 2,200 to Rs 3,300 per sq.ft.

How is stamp duty calculated for property in Bell Colony?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,750 per sq.ft incurs a stamp duty of Rs 1,92,500.