Guideline Value for CENTRAL GOVT EMPLOYEE HOUSING COLONY

Central Govt Employee Housing Colony guideline value

The current guideline value for Central Govt Employee Housing Colony in Thiruvanmiyur village is Rs 9,900 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Central Govt Employee Housing Colony has changed

The guideline value for Central Govt Employee Housing Colony has seen significant changes over the years. In 2007, the value was Rs 3,056 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a substantial rise of 195%. However, between 2012 and 2017, the value decreased to Rs 6,030 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 9,000 per sq.ft in 2023, and most recently, it has increased to Rs 9,900 per sq.ft in the 2024 revision, a change of 10% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 224%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The guideline value for Central Govt Employee Housing Colony is equal to the median value of Rs 9,900 per sq.ft.

• Canal Road (Canal Salai): Rs 7,150 per sq.ft (2024)
• Canal Bank Road: Rs 7,150 per sq.ft (2024)
• Chellaperumal Street: Rs 7,150 per sq.ft (2024)
• Chitrakulath Street: Rs 7,150 per sq.ft (2024)
• Bhinaci Street: Rs 7,150 per sq.ft (2024)
• Cholapuram Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Central Govt Employee Housing Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total fees together to Rs 8,91,000. 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 further calculations.

Which Sub Registrar Office covers Central Govt Employee Housing Colony?

The Central Govt Employee Housing Colony is covered by 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 Thiruvanmiyur

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a value that reflects the current market conditions as determined by the registration department.

When a property is sold, the guideline value helps in establishing the minimum price for registration purposes. Buyers and sellers must be aware of this value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Central Govt Employee Housing Colony?

The current guideline value for Central Govt Employee Housing Colony is Rs 9,900 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 3,056 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 224% over the years.

What is the land classification for Central Govt Employee Housing Colony?

Central Govt Employee Housing Colony is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

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

Other streets in Thiruvanmiyur include Canal Road, Canal Bank Road, Chellaperumal Street, Chitrakulath Street, Bhinaci Street, and Cholapuram Street, all with a guideline value of Rs 7,150 per sq.ft in 2024.

How is stamp duty calculated for properties in Central Govt Employee Housing Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 99,00,000, the stamp duty would be Rs 6,93,000 at a rate of 7%.