Guideline Value for CHINNAYA COLONY

Chinnaya Colony guideline value

The current guideline value of Chinnaya Colony, located in Puliyur village under the Kodambakkam SRO, is Rs 4,600 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class IV Type - I land classification.

How the guideline value of Chinnaya Colony has changed

The guideline value for Chinnaya Colony has seen several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 1,300 per sq.ft. This figure increased significantly to Rs 4,300 per sq.ft in 2012, marking a rise of 231%. However, the value then decreased to Rs 2,881 per sq.ft in 2017, reflecting a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 4,300 per sq.ft, and the latest revision in 2024 has set the value at Rs 4,600 per sq.ft, a 7% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 254%. It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Chinnaya Colony's 2024 figure is below this median.

• Chinna Raju Garden 4th Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 3rd Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 2nd Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 1st Street: Rs 4,400 per sq.ft (2024)
• Chinna Raju Garden 1st Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnaya Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,600 per sq.ft, the total guideline value amounts to Rs 46,00,000. The stamp duty at 7% would be Rs 3,22,000, and the registration fee at 2% would be Rs 92,000, leading to a total of Rs 4,14,000. 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 information.

Which Sub Registrar Office covers Chinnaya Colony?

The Sub Registrar Office that covers Chinnaya Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Puliyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recognized by the authorities.

When a property is sold, the guideline value helps in assessing the fair value of the property, which is crucial for both buyers and sellers. It provides a standardized measure that can be referenced during the registration of the property, ensuring transparency in the transaction.

Frequently asked questions

What is the current guideline value of Chinnaya Colony?

The current guideline value of Chinnaya Colony is Rs 4,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2007 to Rs 4,600 per sq.ft in 2024, reflecting an overall increase of 254% over the years.

What is the land classification for Chinnaya Colony?

Chinnaya Colony is classified under Residential Class IV Type - I.

What are the stamp duty and registration fees for a property in Chinnaya Colony?

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 3,22,000 and the registration fee would be Rs 92,000, totaling Rs 4,14,000.

Which office handles property registrations in Chinnaya Colony?

The Kodambakkam Sub Registrar Office handles property registrations in Chinnaya Colony, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.