Guideline Value for Colony Kizhandai Street

Colony Kizhandai Street guideline value

The current guideline value of Colony Kizhandai Street is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village and falls under the Sunguvarchattram SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Colony Kizhandai Street has changed

The guideline value for Colony Kizhandai Street has seen several revisions over the years. In the 2012 revision, the value was set at Rs 200 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 134 per sq.ft, reflecting a decrease of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision also maintains this value, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Colony Kizhandai Street. Thus, the only relevant revisions are from 2012, 2017, 2023, and 2024.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value among these streets is Rs 305 per sq.ft, indicating that Colony Kizhandai Street's 2024 figure is below this median.

• Colony Melandai Street: Rs 200 per sq.ft (2024)
• Colony Bajanai Kovil Street: Rs 275 per sq.ft (2024)
• Colony Vembulliamman Kovil Street: Rs 200 per sq.ft (2024)
• ETA Florence Garden: Rs 500 per sq.ft (2024)
• Bangalore Main Road: Rs 1,250 per sq.ft (2024)
• Florence Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Kizhandai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees to Rs 18,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Colony Kizhandai Street?

The Sub Registrar Office that covers Colony Kizhandai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. These fees are based on the higher of the guideline value or the actual sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Colony Kizhandai Street?

The current guideline value of Colony Kizhandai Street is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revisions being Rs 200 per sq.ft in both 2023 and 2024, Rs 134 per sq.ft in 2017, and Rs 200 per sq.ft in 2012.

What is the land classification for Colony Kizhandai Street?

The land classification for Colony Kizhandai Street is Residential Class IV Type - I.

What are the stamp duty and registration fees for a property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total fees would be Rs 18,000, which includes Rs 14,000 for stamp duty and Rs 4,000 for registration.

Where can I find the Sub Registrar Office for Colony Kizhandai Street?

The Sub Registrar Office for Colony Kizhandai Street is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.