Guideline Value for CIT COLONY 3RD COSS STREET

Cit Colony 3rd Coss Street guideline value

The current guideline value of Cit Colony 3rd Coss Street is Rs 16,500 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class I Type - I.

How the guideline value of Cit Colony 3rd Coss Street has changed

The guideline value for Cit Colony 3rd Coss Street has seen several revisions over the years. The oldest recorded revision is from 2012, which set the value at Rs 15,000 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 15,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 16,500 per sq.ft, marking a 10% rise from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Cit Colony 3rd Coss Street's 2024 figure above that median.

• Cit Colony 2nd Main Road: Rs 16,500 per sq.ft (2024)
• Cit Colony 4th Cross Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 2nd Link Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 5th Cross Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 2nd Cross Street: Rs 16,500 per sq.ft (2024)
• Cit Colony 6th Cross Street: Rs 16,500 per sq.ft (2024)

Stamp duty and registration fee for property in Cit Colony 3rd Coss Street

For a 1,000 sq.ft plot at the current guideline value of Rs 16,500 per sq.ft, the total guideline value amounts to Rs 1,65,00,000. The stamp duty at 7% would be Rs 11,55,000, and the registration fee at 2% would be Rs 3,30,000, making the total cost for these fees Rs 14,85,000. 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 detailed calculations.

Which Sub Registrar Office covers Cit Colony 3rd Coss Street?

The Sub Registrar Office that covers Cit Colony 3rd Coss Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street, Alwarpet, Chennai -600018. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering properties in Mylapore. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the legal valuation of the property. It is essential for buyers to be aware of the guideline value to ensure they are paying a fair price and to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Cit Colony 3rd Coss Street?

The current guideline value of Cit Colony 3rd Coss Street is Rs 16,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 15,000 per sq.ft in 2012 to Rs 15,000 in 2023, and then increased to Rs 16,500 in 2024. Overall, there has been a 10% increase from the 2012 revision to the 2024 revision.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 1,65,00,000, the stamp duty would be Rs 11,55,000 and the registration fee would be Rs 3,30,000, totaling Rs 14,85,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration of properties in Cit Colony 3rd Coss Street?

The Mylapore Sub Registrar Office handles the registration of properties in Cit Colony 3rd Coss Street. The office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, crescent Street, Alwarpet, Chennai -600018.

What is the land classification for Cit Colony 3rd Coss Street?

Cit Colony 3rd Coss Street is classified as Residential Class I Type - I. This classification is important for determining the usage and development potential of the land.