Guideline Value for Corporation Colony 2st Street

Corporation Colony 2st Street guideline value

The current guideline value of Corporation Colony 2st Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 1 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Corporation Colony 2st Street has changed

The guideline value for Corporation Colony 2st Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 7,700 per sq.ft, which reflects a 10% increase from the previous year's figure of Rs 7,000 per sq.ft established in 2023. Notably, the register has no figures for this street in the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024. The absence of figures for the earlier years indicates that there has been no recorded guideline value for Corporation Colony 2st Street prior to the 2023 revision.

Guideline values in Mylapore Part 1

In Mylapore Part 1, there are 333 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing the 2024 figure for Corporation Colony 2st Street below this median.

• Corporation Colony 1st Street: Rs 7,700 per sq.ft (2024)
• Co-Operative Colony: Rs 14,300 per sq.ft (2024)
• Conronsmith (Road) Salai: Rs 13,200 per sq.ft (2024)
• Damodaram Street: Rs 13,200 per sq.ft (2024)
• Chockalingam Nagar: Rs 14,300 per sq.ft (2024)
• Chockalingam Main Road: Rs 14,300 per sq.ft (2024)

Stamp duty and registration fee for property in Corporation Colony 2st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for stamp duty and registration fees would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Corporation Colony 2st Street?

The Sub Registrar Office that covers Corporation Colony 2st Street is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mylapore Part 1

The guideline value serves as a benchmark for property transactions in Mylapore Part 1. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Frequently asked questions

What is the current guideline value of Corporation Colony 2st Street?

The current guideline value of Corporation Colony 2st Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 7,000 per sq.ft in 2023 to Rs 7,700 per sq.ft in 2024, marking a 10% increase.

What is the land classification for Corporation Colony 2st Street?

The land classification for Corporation Colony 2st Street is Residential Class II Type - I.

Where is the Sub Registrar Office for this street located?

The Sub Registrar Office for Corporation Colony 2st Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

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

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.