Guideline Value for Cowsiya Colony

Cowsiya Colony guideline value

The current guideline value of Cowsiya Colony, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Cowsiya Colony has changed

Over the years, the guideline value of Cowsiya Colony has seen several revisions. Starting from the 2002 revision, the guideline value was Rs 105 per sq.ft, which increased to Rs 328 per sq.ft in 2007, marking a significant rise of 212%. In the 2012 revision, the value remained at Rs 1,500 per sq.ft, followed by a decrease to Rs 1,005 per sq.ft in 2017, a drop of 33%. The 2023 revision maintained the value at Rs 1,500 per sq.ft, and the current 2024 revision also holds the same value, resulting in no change from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 1329%. It is important to note that there is no figure for the 2003 revision in the register for this street.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value across these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Cowsiya Colony.

• Defence Colony 1to 8 Streets: Rs 1,500 per sq.ft (2024)
• Defence Colony 3rd Cross Street: Rs 1,500 per sq.ft (2024)
• Defence Colony 9th Cross Street: Rs 1,500 per sq.ft (2024)
• Devaraj Nagar: Rs 1,200 per sq.ft (2024)
• Chinnappan Avenue (Near by G.S.T Road): Rs 3,500 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Cowsiya Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty, charged at 7%, would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cowsiya Colony?

The Cowsiya Colony is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Nandhivaram. It serves as a reference point for determining the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cowsiya Colony?

The current guideline value of Cowsiya Colony is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 105 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, with significant increases and decreases noted in different revisions.

What is the land classification for Cowsiya Colony?

Cowsiya Colony is classified as Residential Special Type - I, which indicates its intended use for residential purposes.

Where can I find the registration office for Cowsiya Colony?

The registration office covering Cowsiya Colony is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Cowsiya Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,500 per sq.ft would incur a stamp duty of Rs 1,05,000.