Guideline Value for College Road

College Road guideline value

The current guideline value of College Road in Palavanthangal village under the Alandur SRO is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of College Road has changed

The guideline value for College Road has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012, marking an increase of 178%. However, from 2012 to 2017, the value decreased to Rs 3,350 per sq.ft, a decline of 33%. The value then rose to Rs 5,000 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, making the guideline value of College Road above this median.

• Brundavan Nagar: Rs 3,900 per sq.ft (2024)
• Dr Ambethkar Colony 1st Lane: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 1st Street: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 2nd Lane: Rs 2,200 per sq.ft (2024)
• Dr Ambethkar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street Extension: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in College Road

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 be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers College Road?

The Sub Registrar Office that covers College Road 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 information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Palavanthangal. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When registering a property, buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures compliance with local regulations and helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of College Road?

The current guideline value of College Road 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 increased from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 206% over the years.

What is the land classification for College Road?

The land classification for College Road is Commercial Class I Type - I.

What are the stamp duty and registration fees for a property in College Road?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for College Road?

The Alandur Sub Registrar Office handles property registrations for College Road, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.