Guideline Value

Corporate

Guideline Value for CORPORATION COLONY WEST LANE

₹4400/sq.ft.

The guideline value for Corporation Colony West Lane in Tnagar village (Thiyagaraya Nagar SRO, Chennai zone) is Rs 4400 per sq.ft, effective 1 July 2024. It was Rs 4000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Tnagar

Village

Thiyagaraya Nagar

SRO

Residential Class III Type - III
History
Period Guideline Value
From 1-7-2024 ₹4400 /sq.ft.
From 1-4-2023 ₹4000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2680 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹4000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1500 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹1134 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹1021 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

27/14,vetnari Hospital Road Panpet Nandhanam Chennai-35
044-24340958
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Corporation Colony West Lane

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Corporation Colony West Lane guideline value

The current guideline value of Corporation Colony West Lane is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class III Type - III.

How the guideline value of Corporation Colony West Lane has changed

The guideline value for Corporation Colony West Lane has seen several revisions over the years. In 2002, the value was Rs 1,021 per sq.ft, which increased to Rs 1,134 per sq.ft in 2003, marking an 11% rise. Following this, the value rose to Rs 1,500 per sq.ft in 2007, a 32% increase. The next revision in 2012 saw a decrease to Rs 4,000 per sq.ft, a drop of 33%. However, this was followed by a significant increase to Rs 2,680 per sq.ft in 2017, which was a 49% rise. The most recent revisions were in 2023, when the value reached Rs 4,000 per sq.ft, and finally, it increased to Rs 4,400 per sq.ft in 2024, a 10% rise.

There are no figures available for revisions in years not mentioned in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 331%.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Corporation Colony West Lane's 2024 figure below that median.

Stamp duty and registration fee for property in Corporation Colony West Lane

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Corporation Colony West Lane?

The Sub Registrar Office that covers Corporation Colony West Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value during negotiations and when preparing the necessary documentation for registration.

Frequently asked questions

What is the current guideline value of Corporation Colony West Lane?

The current guideline value of Corporation Colony West Lane is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,021 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 331% over this period.

What is the land classification for Corporation Colony West Lane?

The land classification for Corporation Colony West Lane is Residential Class III Type - III, indicating its suitability for residential purposes.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total of Rs 3,96,000 in fees.

Where can I find the Sub Registrar Office for Corporation Colony West Lane?

The Sub Registrar Office for Corporation Colony West Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.