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 area is located in Mylapore Part 2 village under the Chennai Central Joint I SRO, classified as Residential Special Type - IV.

How the guideline value of Co-Operative Colony has changed

The guideline value for Co-Operative Colony has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 13,000 per sq.ft, which was an increase from the previous revisions. The most recent revision in 2024 raised the guideline value to Rs 14,300 per sq.ft, reflecting a 10% increase from the 2023 figure.

In summary, the guideline value has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. This change indicates a significant adjustment in the property valuation for this area.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 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. The median guideline value for this area is Rs 8,800 per sq.ft, and Co-Operative Colony's 2024 figure of Rs 14,300 per sq.ft 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 property in Co-Operative Colony with a size of 1,000 sq.ft, the guideline value is 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, totaling 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 further calculations.

Which Sub Registrar Office covers Co-Operative Colony?

The Sub Registrar Office covering 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 2

The guideline value plays a crucial role in property transactions in Mylapore Part 2. It is used to determine the stamp duty and registration fees during the sale or purchase of a property. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price.

When registering a property, the guideline value ensures that the transaction is recorded accurately according to the prevailing rates set by the Registration Department. This helps maintain transparency and consistency in property valuations.

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 has the guideline value changed over the years?

The guideline value has increased from Rs 13,000 per sq.ft in 2023 to Rs 14,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft. Co-Operative Colony's 2024 figure is above this median.

What are the stamp duty rates for properties in Co-Operative Colony?

The stamp duty for properties in Co-Operative Colony is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, there is a registration fee of 2%.

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

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