Guideline Value for COLOR CASTLE

Color Castle guideline value

The current guideline value of Color Castle is Rs 3,950 per sq.ft, effective from 1 July 2024. This property is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Industries Type - II.

How the guideline value of Color Castle has changed

The guideline value for Color Castle has seen several revisions over the years. In 2012, the value was Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. This was a decline of 33%. However, from 2017 to 2023, the value surged to Rs 3,735 per sq.ft, marking an increase of 123%. The most recent revision in 2024 set the guideline value at Rs 3,950 per sq.ft, a 6% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 58%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value for these streets is Rs 2,725 per sq.ft, placing Color Castle's 2024 figure above this median.

• Color Feels: Rs 2,725 per sq.ft (2024)
• Citrine Sanctum By Urban Tree: Rs 4,000 per sq.ft (2024)
• Chettinad Villa: Rs 2,725 per sq.ft (2024)
• Cheran Nagar: Rs 2,725 per sq.ft (2024)
• Dhanalakshmi Avenue: Rs 2,750 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 975 per sq.ft (2024)

Stamp duty and registration fee for property in Color Castle

For a 1,000 sq.ft plot at the current guideline value of Rs 3,950 per sq.ft, the total guideline value would be Rs 39,50,000. The stamp duty at 7% would be Rs 2,76,500, and the registration fee at 2% would be Rs 79,000, making the total cost Rs 3,55,500. It is important to note that the 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 more details.

Which Sub Registrar Office covers Color Castle?

The Sub Registrar Office that covers Color Castle is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in government records.

When buyers and sellers engage in a transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Color Castle?

The current guideline value of Color Castle is Rs 3,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 3,735 per sq.ft in 2023, and finally to Rs 3,950 per sq.ft in 2024.

What is the land classification for Color Castle?

Color Castle is classified as Industries Type - II, which indicates its suitability for industrial development.

Where is the Sub Registrar Office for Color Castle located?

The Sub Registrar Office for Color Castle is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Color Castle?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the guideline value of Rs 39,50,000, the stamp duty would be Rs 2,76,500.