Guideline Value for COLLECTRATE COLONY 1ST CROSS STREET

Collectrate Colony 1st Cross Street guideline value

The current guideline value of Collectrate Colony 1st Cross Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village and falls under the Kodambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Collectrate Colony 1st Cross Street has changed

The guideline value for Collectrate Colony 1st Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 1,500 per sq.ft. This increased significantly to Rs 5,300 per sq.ft in the 2012 revision, marking a change of +253%. The most recent revision in 2024 set the guideline value at Rs 5,800 per sq.ft, which represents a +9% increase from the 2012 figure.

There are no figures available for the years 2002, 2003, 2017, and 2023 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +287%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, which is equal to the current figure for Collectrate Colony 1st Cross Street.

• Collectrate Colony 2nd Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 3rd Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 4th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 5th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 6th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony Main Road: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Collectrate Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value would be Rs 58,00,000. The stamp duty at 7% would amount to Rs 4,06,000, while the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. 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 further calculations.

Which Sub Registrar Office covers Collectrate Colony 1st Cross Street?

The Sub Registrar Office that covers Collectrate Colony 1st 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 Puliyur

The guideline value is a crucial factor in the registration process of property transactions in Puliyur. It determines the minimum value at which properties must be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Collectrate Colony 1st Cross Street?

The current guideline value of Collectrate Colony 1st Cross Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 5,300 per sq.ft in 2012, and then to Rs 5,800 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2017, and 2023.

What is the land classification for Collectrate Colony 1st Cross Street?

Collectrate Colony 1st Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 58,00,000 would incur a stamp duty of Rs 4,06,000.

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

The Sub Registrar Office for Collectrate Colony 1st Cross Street is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find more details by visiting the relevant website.