Guideline Value for CORPORATION COLONY 1ST STREET

Corporation Colony 1st Street guideline value

The current guideline value of Corporation Colony 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of Corporation Colony 1st Street has changed

The guideline value for Corporation Colony 1st Street has undergone several revisions over the years. In 2002, the value was Rs 1,069 per sq.ft, which increased to Rs 1,174 per sq.ft in 2003. Following this, there was a significant rise to Rs 1,800 per sq.ft in 2007, marking a 53% increase from the previous revision. The value remained unchanged at Rs 6,500 per sq.ft in both 2012 and 2023. The most recent revision in 2024 saw the guideline value rise to Rs 7,100 per sq.ft, reflecting a 9% increase from 2023.

There was no figure recorded for Corporation Colony 1st Street in the 2017 revision. Overall, from 2002 to 2024, the guideline value has increased by 564%, showcasing a substantial growth in the valuation of this street.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a guideline value for 2024, 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, making the current value of Corporation Colony 1st Street above this median.

• Corporation Colony 2nd Street: Rs 7,100 per sq.ft (2024)
• Corporation Colony 1st Main Road: Rs 7,700 per sq.ft (2024)
• Collectrate Colony Main Road: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 6th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 5th Cross Street: Rs 5,800 per sq.ft (2024)
• Collectrate Colony 4th Cross Street: Rs 5,800 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty, charged at 7%, would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Corporation Colony 1st Street?

The Sub Registrar Office that covers Corporation Colony 1st 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 details.

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

The guideline value is a crucial factor when registering property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the financial implications of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect the overall costs involved in the transaction.

Frequently asked questions

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

The current guideline value of Corporation Colony 1st Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 1,069 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 564%.

What is the land classification for Corporation Colony 1st Street?

Corporation Colony 1st Street is classified as Residential Special Type - II under the Kodambakkam SRO.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Corporation Colony 1st Street is charged at 7% of the guideline value or the sale price, whichever is higher.

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

The Sub Registrar Office covering Corporation Colony 1st Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.