Guideline Value for COLLECTORATE COLONY II ND CROSS STREET

Collectorate Colony II Nd Cross Street guideline value

The current guideline value for Collectorate Colony II Nd 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. The land classification for this area is Residential Special Type - I.

How the guideline value of Collectorate Colony II Nd Cross Street has changed

Looking at the historical revisions, the guideline value for Collectorate Colony II Nd Cross Street has seen significant changes over the years. In 2007, the value was Rs 1,350 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012, marking a substantial rise of 344%. However, this value dropped to Rs 4,020 per sq.ft in 2017, reflecting a decrease of 33%. The value then saw a significant increase to Rs 6,000 per sq.ft in 2023, and further rose to Rs 6,600 per sq.ft in 2024, which is an increase of 10% from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 389%. The changes between the revisions indicate a fluctuating yet upward trend in the guideline value, with the most recent 2024 figure being the highest recorded for this street.

Guideline values in Arumbakkam

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

• Collectorate Colony III Rd Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony I St Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony IV Th 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 II Nd 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, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees together to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Collectorate Colony II Nd Cross Street?

The Sub Registrar Office that covers Collectorate Colony II Nd Cross Street 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 Arumbakkam

When buying or selling property in Arumbakkam, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is set by the government and is used as a basis for calculating these fees, ensuring that they are standardized across the region.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Collectorate Colony II Nd Cross Street?

The current guideline value for Collectorate Colony II Nd 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, marking an overall increase of 389% over the years.

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 Sub Registrar Office is responsible for Collectorate Colony II Nd Cross Street?

The Kodambakkam Sub Registrar Office is responsible for Collectorate Colony II Nd Cross Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the median guideline value for streets in Arumbakkam?

The median guideline value for streets in Arumbakkam is Rs 6,000 per sq.ft, with Collectorate Colony II Nd Cross Street's 2024 figure being above this median.