Guideline Value for Co-Operative Colony

Co-Operative Colony guideline value

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

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 earliest recorded revision in 2007 set the value at Rs 200 per sq.ft. This figure dramatically increased to Rs 3,300 per sq.ft in 2012, marking a significant rise of 1550%. However, between 2012 and 2017, the value decreased to Rs 2,211 per sq.ft, a decline of 33%. The value then rose again to Rs 3,300 per sq.ft in 2023, followed by a further increase to Rs 3,630 per sq.ft in 2024, reflecting a 10% growth.

In summary, from 2007 to 2024, the overall increase in the guideline value for Co-Operative Colony is 1715%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mudichur

In Mudichur, there are 135 streets under the Padappai SRO carrying a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, positioning Co-Operative Colony's 2024 figure above this median.

• Co Optex 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-Operative Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,630 per sq.ft, the total guideline value amounts to Rs 36,30,000. The stamp duty, charged at 7%, would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600. Therefore, the total cost for these fees would be Rs 3,26,700. 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 Co-Operative Colony?

The Sub Registrar Office covering Co-Operative 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Mudichur. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees, which are mandatory costs in the property transaction process. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

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

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

How has the guideline value changed over the years?

Since 2007, the guideline value has increased significantly, from Rs 200 per sq.ft to Rs 3,630 per sq.ft in 2024, marking an overall increase of 1715%.

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 the sale price, whichever is higher.

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

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

What is the median guideline value in Mudichur?

The median guideline value for streets in Mudichur is Rs 2,200 per sq.ft, with Co-Operative Colony's value being above this median.