Guideline Value for Co-Operative Colony

Co-Operative Colony guideline value

The current guideline value of Co-Operative Colony is Rs 14,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village under the Chennai Central Joint I SRO, classified as Residential Special Type - IV.

How the guideline value of Co-Operative Colony has changed

In the 2023 revision, the guideline value was Rs 13,000 per sq.ft. The recent 2024 revision increased this value by 10%, setting the current rate at Rs 14,300 per sq.ft. The register has no figure for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions available for Co-Operative Colony are from 2023 and 2024. The increase from 2023 to 2024 reflects a significant adjustment in the guideline value for this locality.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft, where the median value is Rs 8,800 per sq.ft. The guideline value of Co-Operative Colony is above this median.

• Conronsmith (Road) Salai: Rs 13,200 per sq.ft (2024)
• Corporation Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Corporation Colony 2st Street: Rs 7,700 per sq.ft (2024)
• Damodaram Street: Rs 13,200 per sq.ft (2024)
• Chockalingam Nagar: Rs 14,300 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Co-Operative Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 14,300 per sq.ft, the total guideline value amounts to Rs 1,43,00,000. The stamp duty at 7% would be Rs 10,01,000, and the registration fee at 2% would be Rs 2,86,000, bringing the total fees to Rs 12,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Co-Operative Colony?

The Sub Registrar Office that covers Co-Operative Colony is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value is an important factor in property transactions in Mylapore Part 1. It serves as a basis for calculating stamp duty and registration fees when buying or selling property in the area.

When registering a property, the higher value between the guideline value and the sale price will be used to determine the applicable duties and fees. Thus, understanding the guideline value is crucial for both buyers and sellers in this locality.

Frequently asked questions

What is the current guideline value of Co-Operative Colony?

The current guideline value of Co-Operative Colony is Rs 14,300 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024.

What is the land classification for Co-Operative Colony?

Co-Operative Colony is classified as Residential Special Type - IV under the Chennai Central Joint I SRO.

Where can I find the Sub Registrar Office for Co-Operative Colony?

The Sub Registrar Office for Co-Operative Colony is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

Stamp duty for properties in Co-Operative Colony is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.