Guideline Value for CBI Colony (K.K.)

CBI Colony (K.K.) guideline value

The current guideline value of CBI Colony (K.K.) is Rs 5,500 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village, under the Ashok Nagar SRO, classified as Residential Class III Type - I.

How the guideline value of CBI Colony (K.K.) has changed

The guideline value for CBI Colony (K.K.) has seen several revisions over the years. In 2007, the guideline value was Rs 1,460 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017 before rising to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 242%. However, from 2012 to 2017, the value decreased by 33%. The value then surged by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 277%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, placing CBI Colony (K.K.) above this median.

• Burma Kanakammal Street: Rs 4,900 per sq.ft (2024)
• Chandrasekaran Street: Rs 4,100 per sq.ft (2024)
• Brindavan Street (Main Road): Rs 8,200 per sq.ft (2024)
• Brindavan Street Extension(Block 61): Rs 8,200 per sq.ft (2024)
• Brindavan Street: Rs 8,200 per sq.ft (2024)
• Brammavathy Street (JPT): Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in CBI Colony (K.K.)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 details.

Which Sub Registrar Office covers CBI Colony (K.K.)?

The Sub Registrar Office that covers CBI Colony (K.K.) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Kodambakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of CBI Colony (K.K.)?

The current guideline value of CBI Colony (K.K.) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,460 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 277% over this period.

What is the land classification of CBI Colony (K.K.)?

CBI Colony (K.K.) is classified as Residential Class III Type - I.

Where can I find the registration office for CBI Colony (K.K.)?

The registration office for CBI Colony (K.K.) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in CBI Colony (K.K.)?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 55,00,000, the stamp duty at 7% would be Rs 3,85,000.