Guideline Value for Collage Road Main

Collage Road Main guideline value

The current guideline value of Collage Road Main is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Nanganallur village and falls under the Alandur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Collage Road Main has changed

Starting from the earliest revision, the guideline value for Collage Road Main has seen significant changes over the years. In 2002, the value was Rs 356 per sq.ft, which increased to Rs 405 per sq.ft in 2003, marking a 14% rise. The value continued to climb dramatically, reaching Rs 1,800 per sq.ft in 2007, an increase of 344%. However, it then experienced a decrease to Rs 5,000 per sq.ft in 2012, which was a drop of 33% from the previous revision.

From 2012 to 2017, the guideline value rose to Rs 3,350 per sq.ft, reflecting a 49% increase. The value further increased to Rs 5,000 per sq.ft in 2023, and as of the latest revision in 2024, it stands at Rs 5,500 per sq.ft, which is a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1,445%.

Guideline values in Nanganallur

In Nanganallur, there are 155 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 6,600 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Collage Road Main is above this median.

• Church Street: Rs 4,400 per sq.ft (2024)
• Dr Ambethkar Street: Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Elangovadigal Street: Rs 3,300 per sq.ft (2024)
• First Main Road Part: Rs 4,400 per sq.ft (2024)
• Balu Samy Naidu Street (Balu Samy Street): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Collage Road Main

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total charges to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Collage Road Main?

The Sub Registrar Office that covers Collage Road Main is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nanganallur. It serves as the basis for calculating the stamp duty and registration fees, which are mandatory during the property transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements.

When a property is sold, the guideline value is used to determine the minimum value on which the stamp duty is calculated. This means that if the sale price is lower than the guideline value, the duty will be charged based on the guideline value instead of the sale price.

Frequently asked questions

What is the current guideline value of Collage Road Main?

The current guideline value of Collage Road Main is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 356 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 1,445% over this period.

What are the stamp duty and registration fees for property in Collage Road Main?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at the current rate, the total charges would amount to Rs 4,95,000.

Which Sub Registrar Office covers Collage Road Main?

The Alandur Sub Registrar Office covers Collage Road Main, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Collage Road Main?

The land classification for Collage Road Main is Commercial Class I Type - I, indicating its suitability for commercial activities.