Guideline Value for CENTRAL EXERCISE COLONY

Central Exercise Colony guideline value

The current guideline value of Central Exercise Colony is Rs 4,950 per sq.ft, effective from 1 July 2024. This area is located in Saidapet village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Central Exercise Colony has changed

The guideline value for Central Exercise Colony has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 580 per sq.ft. This increased to Rs 726 per sq.ft in 2003, marking a 25% rise. The value further increased to Rs 1,100 per sq.ft in 2007, which represented a significant 52% increase. However, in 2012, the value was revised to Rs 4,500 per sq.ft, reflecting a decrease of 33% from the previous revision. The guideline value then remained at Rs 4,500 per sq.ft until 2017, when it saw a substantial increase to Rs 3,015 per sq.ft, a 49% rise. The most recent revision in 2023 brought the value to Rs 4,500 per sq.ft, and as of 2024, the current guideline value stands at Rs 4,950 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years not mentioned in the register for this street.

Guideline values in Saidapet

In Saidapet, there are 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Central Exercise Colony's 2024 valuation above that median.

• Chetty Street: Rs 4,400 per sq.ft (2024)
• Brahmin Street: Rs 5,500 per sq.ft (2024)
• Chetty Thottam Street: Rs 3,300 per sq.ft (2024)
• Chinnammal Street: Rs 3,300 per sq.ft (2024)
• B.K. Maistry Street: Rs 4,400 per sq.ft (2024)
• Bharathiyar Street (Hospital Road): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Central Exercise Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. 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 precise calculations.

Which Sub Registrar Office covers Central Exercise Colony?

The Sub Registrar Office that covers Central Exercise Colony is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.

To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Saidapet. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware that the guideline value is used to determine the official valuation of the property for these purposes.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation set by the government.

Frequently asked questions

What is the current guideline value of Central Exercise Colony?

The current guideline value of Central Exercise Colony is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 580 in 2002 to Rs 4,950 in 2024, reflecting an overall increase of 753% across the years.

What is the median guideline value for streets in Saidapet?

The median guideline value for the 106 streets in Saidapet under the Chennai South Joint II SRO is Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for properties in Central Exercise Colony?

For a 1,000 sq.ft plot in Central Exercise Colony, the total guideline value is Rs 49,50,000, with stamp duty amounting to Rs 3,46,500 and registration fees at Rs 99,000, totaling Rs 4,45,500.

Where can I find the Sub Registrar Office for Central Exercise Colony?

The Sub Registrar Office for Central Exercise Colony is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035, Chennai registration zone.