Guideline Value for COLLECTRATE COLONY 6TH CROSS STREET

Collectrate Colony 6th Cross Street guideline value

The current guideline value of Collectrate Colony 6th Cross Street is Rs 5,800 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Collectrate Colony 6th Cross Street has changed

The guideline value for Collectrate Colony 6th 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 2012, marking a substantial rise of 253%. The most recent revision in 2024 set the guideline value at Rs 5,800 per sq.ft, which is a 9% increase from the 2012 figure.

It is important to note that the register has no figures for the years 2002, 2003, 2017, and 2023. 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 that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, which is equal to the 2024 figure for Collectrate Colony 6th Cross Street.

• Collectrate Colony 5th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony Main Road: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 4th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 3rd Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 2nd Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 1st Cross Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Collectrate Colony 6th 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 amounts to 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, leading to a total of 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 more details.

Which Sub Registrar Office covers Collectrate Colony 6th Cross Street?

The Sub Registrar Office covering Collectrate Colony 6th 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 further assistance.

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

The guideline value is an essential factor during the registration of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value helps ensure that the transaction is recorded at a value that reflects the current market conditions, thus providing transparency and fairness in the registration process.

Frequently asked questions

What is the current guideline value of Collectrate Colony 6th Cross Street?

The current guideline value of Collectrate Colony 6th 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, representing an overall increase of 287% from 2007 to 2024.

What is the land classification for Collectrate Colony 6th Cross Street?

The land classification for Collectrate Colony 6th Cross Street is Residential Class I Type - I, indicating that it is primarily designated for residential use.

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

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For example, a 1,000 sq.ft plot at the current rate incurs a total of Rs 5,22,000 in fees.

Which office handles the registration for Collectrate Colony 6th Cross Street?

The Kodambakkam Sub Registrar Office handles the registration for Collectrate Colony 6th Cross Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.