Guideline Value for COLLECTRATE COLONY 2ND CROSS STREET

Collectrate Colony 2nd Cross Street guideline value

The current guideline value of Collectrate Colony 2nd Cross Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Class I Type - I.

How the guideline value of Collectrate Colony 2nd Cross Street has changed

In the 2007 revision, 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 value at Rs 5,800 per sq.ft, reflecting a +9% increase from the 2012 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by +287%. It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023 for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value is Rs 5,800 per sq.ft, which is equal to the 2024 figure for Collectrate Colony 2nd Cross Street.

• Collectrate Colony 1st 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 2nd 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 be Rs 4,06,000, and the registration fee at 2% would be Rs 1,16,000, bringing the total to Rs 5,22,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Collectrate Colony 2nd Cross Street?

The Sub Registrar Office that covers Collectrate Colony 2nd 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 here.

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

The guideline value is a crucial factor in the registration process for property transactions in Puliyur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both buyers and sellers to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Collectrate Colony 2nd Cross Street?

The current guideline value of Collectrate Colony 2nd 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 finally to Rs 5,800 per sq.ft in 2024. This marks an overall increase of +287% from 2007 to 2024.

What is the land classification for Collectrate Colony 2nd Cross Street?

The land classification for Collectrate Colony 2nd Cross Street is Residential Class I Type - I.

Where can I find the Kodambakkam Sub Registrar Office?

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

How is the stamp duty calculated for property in Collectrate Colony 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total guideline value of Rs 58,00,000, with stamp duty calculated at 7% of this amount.