Guideline Value for Bagavathi Amman Colony

Bagavathi Amman Colony guideline value

The current guideline value of Bagavathi Amman Colony is Rs 2,700 per sq.ft, effective from 1 July 2024. This locality is situated in Kolathur village under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Bagavathi Amman Colony has changed

The guideline value for Bagavathi Amman Colony has seen several revisions over the years. Starting from Rs 263 per sq.ft in 2002, it increased to Rs 286 per sq.ft in 2003, marking a rise of 9%. The value further surged to Rs 1,000 per sq.ft in 2007, reflecting a significant increase of 250%. By 2012, the guideline value remained unchanged at Rs 2,500 per sq.ft. The next revision in 2023 also retained the same value of Rs 2,500 per sq.ft.

In 2024, the guideline value was revised to Rs 2,700 per sq.ft, which is an increase of 8% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 927%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which means that the guideline value for Bagavathi Amman Colony is below this median.

• Bagavathi Amman 5th Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 4th Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 3rd Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 2nd Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 1st Street: Rs 2,700 per sq.ft (2024)
• Bajanai Koil Street @ Kannabiran Bajanai Koil Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Bagavathi Amman Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Bagavathi Amman Colony?

The Sub Registrar Office that covers Bagavathi Amman Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. The registration office will use this value to calculate the applicable fees, which are mandatory for completing the registration process.

Frequently asked questions

What is the current guideline value of Bagavathi Amman Colony?

The current guideline value of Bagavathi Amman Colony is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 263 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 927% over this period.

What is the stamp duty for property in Bagavathi Amman Colony?

The stamp duty for property in Bagavathi Amman Colony is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value in Kolathur?

The median guideline value for streets in Kolathur is Rs 3,300 per sq.ft, which is higher than the current guideline value of Bagavathi Amman Colony.