Guideline Value for Co Optex Colony

Co Optex Colony guideline value

The current guideline value of Co Optex Colony is Rs 3,630 per sq.ft, effective from 1 July 2024. This area is located in Mudichur village under the Padappai SRO and is classified as Commercial Class I Type - I.

How the guideline value of Co Optex Colony has changed

Over the years, the guideline value of Co Optex Colony has seen several revisions. The 2012 revision set the value at Rs 3,300 per sq.ft, which then decreased to Rs 2,211 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,300 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 3,630 per sq.ft, reflecting a 10% increase from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Co Optex Colony is above this median.

• Co-Operative Colony: Rs 3,630 per sq.ft (2024)
• Chitra Avenue: Rs 1,760 per sq.ft (2024)
• Dhanalakshmi Street: Rs 1,210 per sq.ft (2024)
• Dhaniya Lakshmi Street: Rs 1,210 per sq.ft (2024)
• Captain Sasikumar Nagar: Rs 2,200 per sq.ft (2024)
• B.M.Avenue: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Co Optex Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value would be Rs 36,30,000. The stamp duty at 7% would amount to Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, bringing the total to Rs 3,26,700. It is important to note that the stamp 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 Co Optex Colony?

The Sub Registrar Office that covers Co Optex Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor during the registration of property transactions in Mudichur. It serves as a benchmark for calculating the stamp duty and registration fees that buyers must pay when purchasing property.

When a property is sold, the sale price or the guideline value is used, whichever is higher, to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Co Optex Colony?

The current guideline value of Co Optex Colony is Rs 3,630 per sq.ft, effective from 1 July 2024.

How has the guideline value of Co Optex Colony changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2012 to Rs 2,211 per sq.ft in 2017, then to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,630 per sq.ft in 2024.

What is the land classification of Co Optex Colony?

Co Optex Colony is classified as Commercial Class I Type - I.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Co Optex Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 36,30,000 would incur a stamp duty of Rs 2,54,100 at 7%.