Guideline Value for CTO Colony 3rd St

CTO Colony 3rd St guideline value

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

How the guideline value of CTO Colony 3rd St has changed

The guideline value for CTO Colony 3rd St has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% rise. However, this value decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, followed by the current rate of Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Tambaram

In Tambaram, 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 aligns with the current guideline value for CTO Colony 3rd St.

• CTO Colony 2nd St: Rs 3,300 per sq.ft (2024)
• CTO Colony 4th extn: Rs 3,300 per sq.ft (2024)
• CTO Colony 1st St: 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 3rd St

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to 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 information on fees.

Which Sub Registrar Office covers CTO Colony 3rd St?

The Sub Registrar Office that covers CTO Colony 3rd 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 additional details.

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

The guideline value is a critical factor in property transactions in Tambaram. It serves as a reference point for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees.

It is essential to be aware that the guideline value may differ from the sale price of a property. The higher amount between the guideline value and the sale price is used for calculating the stamp duty and registration fees during the registration process.

Frequently asked questions

What is the current guideline value of CTO Colony 3rd St?

The current guideline value of CTO Colony 3rd 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, showing an overall increase of 450% over the years.

What are the stamp duty and registration fees for properties in CTO Colony 3rd St?

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which registration office covers CTO Colony 3rd St?

The Tambaram Joint 1 Sub Registrar Office covers CTO Colony 3rd St, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties and is essential for calculating the stamp duty and registration fees during property transactions in Tambaram.