Guideline Value for Colony Cross Street

Colony Cross Street guideline value

The current guideline value of Colony Cross Street in Sengadu village is Rs 101 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class IV Type - I.

How the guideline value of Colony Cross Street has changed

In the 2012 revision, the guideline value was Rs 100 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 67 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 100 per sq.ft in the 2023 revision, and subsequently rose to Rs 101 per sq.ft in the 2024 revision, reflecting a change of 1% from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by just 1%. The register has no figures for this street in the years 2002, 2003, and 2007.

Guideline values in Sengadu

In Sengadu, there are 24 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 101 to Rs 500 per sq.ft, with a median value of Rs 150 per sq.ft. Colony Cross Street's 2024 figure is below this median.

• Cross Street: Rs 150 per sq.ft (2024)
• Dharani Grand: Rs 500 per sq.ft (2024)
• Cement Salai Street: Rs 150 per sq.ft (2024)
• Bajanai Koil Street: Rs 150 per sq.ft (2024)
• G.K.R Nagar: Rs 150 per sq.ft (2024)
• Arokia Matha Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total charges to Rs 9,090. 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 Colony Cross Street?

The Sub Registrar Office that covers Colony Cross Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Sengadu. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Colony Cross Street?

The current guideline value for Colony Cross Street is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 101 per sq.ft in 2024.

What is the land classification for Colony Cross Street?

Colony Cross Street is classified as Residential Class IV Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Colony Cross Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 at a rate of 7%.