Guideline Value for CTO Colony 4th St

CTO Colony 4th St guideline value

The current guideline value of CTO Colony 4th 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 4th St has changed

The guideline value for CTO Colony 4th St has seen several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 400% increase. However, this value dropped to Rs 2,010 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has been revised to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register 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 have 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 the same as the current guideline value for CTO Colony 4th St.

• CTO Colony 4th extn: Rs 3,300 per sq.ft (2024)
• CTO Colony 5th St: Rs 3,300 per sq.ft (2024)
• CTO Colony 3rd St: Rs 3,300 per sq.ft (2024)
• CTO Colony 2nd St: Rs 3,300 per sq.ft (2024)
• CTO Colony 1st 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 4th 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, bringing the total costs together 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.

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

Which Sub Registrar Office covers CTO Colony 4th St?

The Sub Registrar Office that covers CTO Colony 4th 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 details.

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

The guideline value is a crucial factor when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees payable at the time of property registration. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate their financial obligations.

When a property is sold, the guideline value is used to assess the transaction value for taxation purposes. This means that the stamp duty is calculated based on the higher of the guideline value or the agreed sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of CTO Colony 4th St?

The current guideline value of CTO Colony 4th 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 an overall increase of 450% over this period.

What are the stamp duty rates for property in Tambaram?

The stamp duty rate for property transactions in Tambaram is 7%. This is calculated based on the higher of the guideline value or the sale price.

Where is the Tambaram Joint 1 SRO located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees payable during property transactions. It serves as a benchmark for assessing the transaction value for taxation purposes.