Guideline Value for DOLLARS COLONY PHASE - I

Dollars Colony Phase - I guideline value

The current guideline value for Dollars Colony Phase - I is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Vengambakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this street is Residential Class I Type - IV.

How the guideline value of Dollars Colony Phase - I has changed

The guideline value for Dollars Colony Phase - I has seen several revisions over the years. The 2017 revision set the value at Rs 2,000 per sq.ft, which remained unchanged until the 2023 revision. In 2023, the guideline value was increased to Rs 2,000 per sq.ft, and then further raised to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vengambakkam

In Vengambakkam, there are 88 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 5,000 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Dollars Colony Phase - I is above this median.

• Dr.Ambedkar Street: Rs 440 per sq.ft (2024)
• Easwaran Koil Street: Rs 550 per sq.ft (2024)
• Church Street: Rs 440 per sq.ft (2024)
• First Cross Road: Rs 550 per sq.ft (2024)
• First Cross Street: Rs 550 per sq.ft (2024)
• Bbcl Auracity: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Dollars Colony Phase - I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Dollars Colony Phase - I?

The Sub Registrar Office that covers Dollars Colony Phase - I is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Vengambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

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 duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Dollars Colony Phase - I?

The current guideline value for Dollars Colony Phase - I is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,000 per sq.ft from 2017 until 2023, when it increased to Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year.

What are the guideline values for other streets in Vengambakkam?

Other streets in Vengambakkam have varying guideline values, ranging from Rs 440 to Rs 1,650 per sq.ft. For example, Dr.Ambedkar Street has a guideline value of Rs 440 per sq.ft, while Bbcl Auracity is valued at Rs 1,650 per sq.ft.

What is the stamp duty rate for properties in Dollars Colony Phase - I?

The stamp duty rate for properties in Dollars Colony Phase - I is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Dollars Colony Phase - I?

The Sub Registrar Office for Dollars Colony Phase - I is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.