Guideline Value for Cox colony

Cox colony guideline value

The current guideline value of Cox colony in Chindadripet village, under the Periamet SRO, is Rs 2,900 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class III Type - II.

How the guideline value of Cox colony has changed

The guideline value for Cox colony has seen several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012. However, it dropped to Rs 1,809 per sq.ft in 2017. The 2023 revision set the value at Rs 2,700 per sq.ft, and the most recent revision in 2024 has raised it to Rs 2,900 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 350%. However, from 2012 to 2017, it decreased by 33%. The value then surged by 49% from 2017 to 2023, and finally, there was a 7% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 383%.

Guideline values in Chindadripet

In Chindadripet, there are 98 streets under the Periamet SRO that carry a guideline value for 2024, ranging from Rs 2,500 to Rs 18,100 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Cox colony is below this median.

• Cox street: Rs 2,900 per sq.ft (2024)
• Coovum River Road: Rs 3,200 per sq.ft (2024)
• Dams Road: Rs 11,000 per sq.ft (2024)
• Devaraj sarang lane: Rs 3,300 per sq.ft (2024)
• Chinna Kolandathai street: Rs 3,300 per sq.ft (2024)
• Dharmaraja koil street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Cox colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. 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 details.

Which Sub Registrar Office covers Cox colony?

The Sub Registrar Office that covers Cox colony is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Chindadripet. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value according to government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are documented and taxed appropriately.

Frequently asked questions

What is the current guideline value of Cox colony?

The current guideline value of Cox colony in Chindadripet village is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,900 per sq.ft in 2024, marking an overall increase of 383% over the years.

What are the other streets in Chindadripet with their guideline values?

Other streets in Chindadripet include Cox street at Rs 2,900 per sq.ft, Coovum River Road at Rs 3,200 per sq.ft, Dams Road at Rs 11,000 per sq.ft, and several others with varying rates.

What is the registration fee for property in Cox colony?

The registration fee for property in Cox colony is calculated based on the guideline value. For example, a property valued at Rs 29,00,000 would incur a registration fee of Rs 58,000 at 2%.

Where can I find the Sub Registrar Office for Cox colony?

The Sub Registrar Office for Cox colony is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.