Guideline Value for CHAMBERS COLONY KOTHANDAM NAGAR 1,2,3,4,5

Chambers Colony Kothandam Nagar 1,2,3,4,5 guideline value

The current guideline value for Chambers Colony Kothandam Nagar 1,2,3,4,5 is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Zaminpallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chambers Colony Kothandam Nagar 1,2,3,4,5 has changed

The guideline value for this area has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in the 2017 revision. However, the latest 2024 revision has increased the guideline value back to Rs 3,300 per sq.ft, marking a significant increase of 64% from the 2017 figure.

From 2012 to 2017, there was a decrease of 33% in the guideline value. Overall, comparing the values from 2012 to 2024, there has been a slight increase of 10%. It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with the 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is the same as the guideline value for Chambers Colony Kothandam Nagar 1,2,3,4,5.

• Chambers Colony 7b Street: Rs 3,300 per sq.ft (2024)
• Chambers Colony 1 To 11 Streets: Rs 3,300 per sq.ft (2024)
• Chambers Colony 11th Street Extn: Rs 3,300 per sq.ft (2024)
• Chandra Nagar: Rs 2,100 per sq.ft (2024)
• Chandrasekaran Street: Rs 3,850 per sq.ft (2024)
• Chavadi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chambers Colony Kothandam Nagar 1,2,3,4,5

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chambers Colony Kothandam Nagar 1,2,3,4,5?

The Sub Registrar Office that covers Chambers Colony Kothandam Nagar 1,2,3,4,5 is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the minimum price at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with registration requirements.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Therefore, understanding the guideline value is essential for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Chambers Colony Kothandam Nagar 1,2,3,4,5?

The current guideline value for Chambers Colony Kothandam Nagar 1,2,3,4,5 is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. This represents a 64% increase from 2017 to 2024.

What is the land classification for this area?

The land classification for Chambers Colony Kothandam Nagar 1,2,3,4,5 is Residential Class I Type - II.

What is the registration office for this property?

The registration office for Chambers Colony Kothandam Nagar 1,2,3,4,5 is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value would be Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.