Guideline Value for BEST & CROMPTON NAGAR

Best & Crompton Nagar guideline value

The current guideline value of Best & Crompton Nagar is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Kolatti village and falls under the Ponneri SRO, classified as Residential Class I Type - I.

How the guideline value of Best & Crompton Nagar has changed

Over the years, the guideline value for Best & Crompton Nagar has seen several revisions. The earliest recorded figure is from 2012, which was Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in 2017. The subsequent revision in 2023 saw an increase to Rs 300 per sq.ft, and the latest revision in 2024 brought the value up to Rs 330 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a significant decrease of 33%. However, the period from 2017 to 2023 saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Kolatti

In Kolatti village, there are 18 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 220 to Rs 330 per sq.ft. The median value for these streets is Rs 275 per sq.ft, placing Best & Crompton Nagar's 2024 figure above this median.

• Gayathri Nagar: Rs 330 per sq.ft (2024)
• Kollatti Bajani Kovil St: Rs 220 per sq.ft (2024)
• Kollatti Kuttu Road Salai: Rs 220 per sq.ft (2024)
• Naidu Street: Rs 220 per sq.ft (2024)
• Nandiyam Pakkam Road: Rs 220 per sq.ft (2024)
• Parasakthi Nagar: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Best & Crompton Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, resulting in a total of Rs 29,700 for these charges. It is important to note that the 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 Best & Crompton Nagar?

The Best & Crompton Nagar area is covered by the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

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

The guideline value is a crucial factor in property transactions in Kolatti. It serves as a benchmark for determining the minimum value at which property can be registered. When buying or selling property, the guideline value ensures that all transactions are conducted at a fair and transparent rate, as it is set by the Registration Department.

During the registration process, the guideline value is used to calculate applicable stamp duties and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Best & Crompton Nagar?

The current guideline value of Best & Crompton Nagar is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then back to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the median guideline value in Kolatti?

The median guideline value for the 18 streets in Kolatti under the Ponneri SRO is Rs 275 per sq.ft.

What are the stamp duty and registration fees for property in Best & Crompton Nagar?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100, and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which office handles registrations for Best & Crompton Nagar?

The Ponneri Sub Registrar Office handles registrations for Best & Crompton Nagar, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.