Guideline Value for CTO Colony 2nd St

CTO Colony 2nd St guideline value

The current guideline value of CTO Colony 2nd St is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of CTO Colony 2nd St has changed

The guideline value for CTO Colony 2nd St has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a 33% drop. The value further increased to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft from the 2024 revision, representing a 10% increase from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 450%. The changes between the revisions illustrate the fluctuations in the guideline value, with the most significant increase occurring between 2012 and 2017, followed by a consistent rise in the subsequent years.

Guideline values in Tambaram

In Tambaram village, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of CTO Colony 2nd St.

• CTO Colony 1st St: Rs 3,300 per sq.ft (2024)
• CTO Colony 3rd St: Rs 3,300 per sq.ft (2024)
• CTO Colony 4th extn: Rs 3,300 per sq.ft (2024)
• CTO Colony 4th St: Rs 3,300 per sq.ft (2024)
• CTO Colony 5th St: Rs 3,300 per sq.ft (2024)
• Daniel Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in CTO Colony 2nd St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 CTO Colony 2nd St?

The Sub Registrar Office that covers CTO Colony 2nd St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value plays a crucial role in the registration process of property transactions in Tambaram. When buying or selling property, the guideline value is used as a basis for calculating the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

It is essential for buyers and sellers to be aware of the current guideline value to accurately assess the costs involved in property transactions. The guideline value ensures transparency and helps in maintaining a standard for property transactions within the region.

Frequently asked questions

What is the current guideline value of CTO Colony 2nd St?

The current guideline value of CTO Colony 2nd St is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What is the registration office for CTO Colony 2nd St?

The registration office for CTO Colony 2nd St is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What are the stamp duty and registration fees for a property in CTO Colony 2nd St?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where can I find more information about stamp duty and registration fees?

For more information about stamp duty and registration fees, you can use the stamp duty and registration fee calculator.