Guideline Value for Colony School Street

Colony School Street guideline value

The current guideline value of Colony School Street is Rs 175 per sq.ft. This street is located in Palnalloor village, under the Sunguvarchattram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Colony School Street has changed

In the 2012 revision, the guideline value was set at Rs 175 per sq.ft. This figure remained unchanged in the subsequent revisions of 2017 and 2023. However, in the 2017 revision, the value had previously decreased from Rs 175 to Rs 117 per sq.ft, marking a -33% change. Following this, the value increased by 50% to reach Rs 175 in 2023.

The most recent revision in 2024 has also maintained the guideline value at Rs 175 per sq.ft, showing no change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Palnalloor

In Palnalloor, there are 34 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 175 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. Colony School Street's 2024 figure is below this median.

• Bharathi Nagar: Rs 200 per sq.ft (2024)
• BalaVinayagar Street: Rs 175 per sq.ft (2024)
• Balaji Nagar Part - I: Rs 200 per sq.ft (2024)
• Bajanai Kovil Street: Rs 175 per sq.ft (2024)
• Gayathiri Nagar: Rs 200 per sq.ft (2024)
• Anumanth Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Colony School Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total to Rs 15,750. 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 further assistance.

Which Sub Registrar Office covers Colony School Street?

The Colony School Street is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a buyer or seller approaches the registration office, the guideline value is considered to ensure that the transaction reflects the official value of the property. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Colony School Street?

The current guideline value of Colony School Street is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: it was Rs 175 in 2012, decreased to Rs 117 in 2017, and then increased back to Rs 175 in 2023 and 2024.

What is the land classification of Colony School Street?

Colony School Street is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in Colony School Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 15,750.

Which office handles the registration for Colony School Street?

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