Guideline Value for COLLECTORATE COLONY III RD CROSS STREET

Collectorate Colony III Rd Cross Street guideline value

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

How the guideline value of Collectorate Colony III Rd Cross Street has changed

The guideline value for Collectorate Colony III Rd Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,350 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, it then dropped to Rs 4,020 per sq.ft in 2017. The value rose again to Rs 6,000 per sq.ft in 2023, and currently stands at Rs 6,600 per sq.ft following the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 389%. The revisions for the years 2002 and 2003 do not have a registered figure 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, with a median value of Rs 6,000 per sq.ft. The guideline value for Collectorate Colony III Rd Cross Street is above this median.

• Collectorate Colony II Nd 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 III Rd 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, making the total fees together Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Collectorate Colony III Rd Cross Street?

The Sub Registrar Office that covers Collectorate Colony III Rd 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 information.

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

The guideline value is a crucial factor when registering property in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during a property transaction.

When buying or selling property, the guideline value is referenced to ensure that the transaction is recorded accurately. This helps maintain transparency in real estate transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Collectorate Colony III Rd Cross Street?

The current guideline value of Collectorate Colony III Rd 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 from Rs 1,350 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 389% over the years.

What is the land classification for Collectorate Colony III Rd Cross Street?

Collectorate Colony III Rd Cross Street is classified as Residential Special Type - I under the Kodambakkam SRO.

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

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.

Where can I find the Sub Registrar Office for this street?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.