Guideline Value for COLLECTORATE COLONY I ST CROSS STREET

Collectorate Colony I St Cross Street guideline value

The current guideline value of Collectorate Colony I St Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village and falls under the Kodambakkam SRO, classified as Residential Special Type - I.

How the guideline value of Collectorate Colony I St Cross Street has changed

Starting from the earliest revision in 2007, the guideline value was Rs 1,350 per sq.ft. This figure saw a significant increase to Rs 6,000 per sq.ft in 2012, marking a rise of 344%. However, in 2017, the value decreased to Rs 4,020 per sq.ft, which represented a drop of 33%. The value then increased again to Rs 6,000 per sq.ft in 2023, showing a 49% increase from the previous revision. The latest revision in 2024 has set the guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from 2023.

The register does not have figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 389%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, placing Collectorate Colony I St Cross Street above this median.

• Collectorate Colony II Nd Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony IV Th Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony III Rd Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony Main Road: Rs 6,600 per sq.ft (2024)
• Collectorate Colony VI Th Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony V Th Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Collectorate Colony I St Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be Rs 66,00,000. The stamp duty at 7% would amount to Rs 4,62,000, while the registration fee at 2% would be Rs 1,32,000. The total cost for these fees together would be Rs 5,94,000. 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 accurate calculations.

Which Sub Registrar Office covers Collectorate Colony I St Cross Street?

The Collectorate Colony I St Cross Street is covered by 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 Arumbakkam

When buying or selling property in Arumbakkam, the guideline value serves as a benchmark for determining the stamp duty and registration fees. This value is essential for the legal documentation process during property transactions, ensuring both parties are aware of the applicable costs.

The guideline value is also used by the government to assess property taxes and other related charges. It is crucial for buyers and sellers to be informed about these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Collectorate Colony I St Cross Street?

The current guideline value of Collectorate Colony I St Cross Street is Rs 6,600 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 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 389%.

What are the stamp duty and registration fees for this property?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which office handles registrations for this area?

The Kodambakkam Sub Registrar Office handles registrations for Collectorate Colony I St Cross Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and previous revision figures. It is used to assess property transactions and related fees.