Guideline Value for Colony Street

Colony Street guideline value

The current guideline value of Colony Street in Vadakal_C 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

In the 2017 revision, the guideline value for Colony Street was set at Rs 100 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a guideline value of Rs 150 per sq.ft. The current guideline value, effective from the 2024 revision, is also Rs 150 per sq.ft, indicating no change from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

From the 2017 to 2023 revision, the guideline value increased by 50%. Overall, from the 2017 revision to the current 2024 revision, there has been a 50% increase. The consistency in the guideline value from 2023 to 2024 shows stability in the pricing for this street.

Guideline values in Vadakal_C

In Vadakal_C village, there are 61 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 400 per sq.ft. Colony Street's 2024 guideline value is below this median.

• Easunathar Koil Street: Rs 200 per sq.ft (2024)
• 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)

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, totaling Rs 13,500. It is important to note that the stamp 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 details.

Which Sub Registrar Office covers Colony Street?

The Sub Registrar Office that covers 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_C

The guideline value is a crucial factor when buying or selling property in Vadakal_C, as it determines the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during property transactions.

When a property is registered, the guideline value serves as a benchmark for the transaction. It ensures that the government receives the appropriate fees based on the property's value, helping to maintain transparency in real estate dealings.

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 for Colony Street 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 over that period.

What is the classification of land on Colony Street?

Colony Street is classified as Residential Class IV Type - I, indicating its use for residential purposes.

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

For a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 and the registration fee would be Rs 3,000, totaling Rs 13,500.

Where is the Sub Registrar Office for Colony Street located?

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