Guideline Value for Colony Street

Colony Street guideline value

The current guideline value of Colony Street in Soorapattu village, under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this street is Residential Class II Type - II.

How the guideline value of Colony Street has changed

The guideline value for Colony Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which then changed to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023 and further to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Between the 2017 and 2023 revisions, the guideline value rose by 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Soorapattu

In Soorapattu, there are 115 streets under the Ambattur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 5,100 per sq.ft, with a median value of Rs 1,300 per sq.ft. Colony Street's 2024 guideline value is below this median.

• DEE GEE Nagar Anex: Rs 1,900 per sq.ft (2024)
• D.G. Nagar: Rs 1,900 per sq.ft (2024)
• Chandra Park-Layout: Rs 1,900 per sq.ft (2024)
• Brittania Nagar: Rs 1,400 per sq.ft (2024)
• Bhavani Amman Koil Street: Rs 1,200 per sq.ft (2024)
• Bharathiyar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total fees together to Rs 1,08,000. 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 more information.

Which Sub Registrar Office covers Colony Street?

The Sub Registrar Office that covers Colony Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Soorapattu. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value helps in assessing the transaction's legitimacy and ensuring that the appropriate taxes are paid. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Colony Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Colony Street?

The land classification for Colony Street is Residential Class II Type - II.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 12,00,000, with a stamp duty of Rs 84,000 and a registration fee of Rs 24,000, totaling Rs 1,08,000.

Where is the Sub Registrar Office for Colony Street located?

The Sub Registrar Office for Colony Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.