Guideline Value for Co-operative Colony

Co-operative Colony guideline value

The current guideline value of Co-operative Colony in Pozhichalur village, under the Pammal SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Co-operative Colony has changed

The guideline value of Co-operative Colony has seen significant changes over the years. In the 2007 revision, the value was set at Rs 400 per sq.ft, which increased to Rs 804 per sq.ft in 2017, marking a growth of 101%. The value further rose to Rs 1,200 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 1,320 per sq.ft, a 10% increase from 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median value is Rs 1,320 per sq.ft, which is equal to the current figure for Co-operative Colony.

• Commissioner Colony Main Road (3): Rs 2,200 per sq.ft (2024)
• Commissioner Colony Main Road (2): Rs 2,200 per sq.ft (2024)
• Commissioner Colony 6th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 5th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 4th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 3rd Street 1st Cross Street: 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 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. 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 Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Pozhichalur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue based on the established value of the property.

Frequently asked questions

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

The current guideline value of Co-operative Colony is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 230% over the years.

What are the other streets in Pozhichalur?

Other streets in Pozhichalur include Commissioner Colony Main Road (3), Commissioner Colony Main Road (2), Commissioner Colony 6th Street, Commissioner Colony 5th Street, Commissioner Colony 4th Street, and Commissioner Colony 3rd Street 1st Cross Street, all with a guideline value of Rs 2,200 per sq.ft in 2024.

Where is the Sub Registrar Office for Co-operative Colony located?

The Sub Registrar Office for Co-operative Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

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

The stamp duty for properties in Co-operative Colony is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft property at the current guideline value incurs a total fee of Rs 1,18,800.