Guideline Value for Colony Street

Colony Street guideline value

The current guideline value of Colony Street in Vadakal_B village is Rs 150 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 Street has changed

Colony Street has undergone several revisions in its guideline value over the years. The most recent revision in 2024 set the value at Rs 150 per sq.ft, which is the same as the 2023 revision. Prior to that, in 2017, the guideline value was Rs 100 per sq.ft, marking a 50% increase from 2017 to 2023. The register has no figures for the revisions in 2002, 2003, 2007, and 2012.

Overall, from 2017 to 2024, the guideline value increased by 50%. The consistency in the values from 2023 to 2024 indicates no change during that period.

Guideline values in Vadakal_B

In Vadakal_B, there are 34 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,900 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Colony Street's 2024 figure below that median.

• Bajanai Koil Street: Rs 300 per sq.ft (2024)
• Ganesh Nagar: Rs 500 per sq.ft (2024)
• Arabindo Nagar: Rs 200 per sq.ft (2024)
• Green Housing Phase - III: Rs 300 per sq.ft (2024)
• Green Park: Rs 300 per sq.ft (2024)
• Amsaveni Nagar: Rs 400 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 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty at 7% would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total fees Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Colony Street?

The Sub Registrar Office covering Colony 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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vadakal_B. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When you register a property, the guideline value ensures that the transaction is documented at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of the guideline values in their respective areas 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 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2023 to 2024. It increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in 2023, marking a 50% increase overall from 2017 to 2024.

What are the other streets in Vadakal_B and their guideline values?

Other streets in Vadakal_B have varying guideline values, ranging from Rs 150 to Rs 1,900 per sq.ft. For example, Bajanai Koil Street is valued at Rs 300 per sq.ft, while Ganesh Nagar is higher at Rs 500 per sq.ft.

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

The stamp duty for a property valued at Rs 1,50,000 would be Rs 10,500, and the registration fee would be Rs 3,000, totaling Rs 13,500. These fees are based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Colony Street located?

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