Guideline Value for CORPORATION COLONY 2ND STREET

Corporation Colony 2nd Street guideline value

The current guideline value of Corporation Colony 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam Sub Registrar Office (SRO) and is classified as Residential Special Type - II.

How the guideline value of Corporation Colony 2nd Street has changed

The guideline value for Corporation Colony 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, when it was Rs 963 per sq.ft. This value increased to Rs 1,058 per sq.ft in 2003, marking a 10% rise. In 2007, the value saw a significant jump to Rs 1,800 per sq.ft, reflecting a 70% increase. The next revision in 2012 brought the value to Rs 6,500 per sq.ft, which was a substantial increase of 261% from the previous figure. However, this value decreased to Rs 4,355 per sq.ft in 2017, showing a decline of 33%.

In 2023, the guideline value rose to Rs 6,500 per sq.ft, and then it increased again to the current rate of Rs 7,100 per sq.ft in 2024, representing a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 637%. There are no figures available for any revisions prior to 2002 or after 2024 for this street.

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 in this area is Rs 5,800 per sq.ft, placing Corporation Colony 2nd Street's 2024 figure above this median.

• Corporation Colony 1st 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, while the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Corporation Colony 2nd Street?

The Sub Registrar Office that covers Corporation Colony 2nd 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 critical factor in property transactions in Puliyur, as it determines the minimum value on which stamp duty and registration fees are calculated. When buying or selling property, the guideline value serves as a benchmark for the transaction price, ensuring that the government receives appropriate revenue from property registrations.

Frequently asked questions

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

The current guideline value of Corporation Colony 2nd 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 seen several revisions, increasing from Rs 963 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, which is an overall increase of 637%.

What is the land classification for Corporation Colony 2nd Street?

Corporation Colony 2nd Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost for stamp duty and registration would be Rs 6,39,000.

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

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