Guideline Value for Double Tank Colony

Double Tank Colony guideline value

The current guideline value of Double Tank Colony is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO, with a land classification of Mixed Type - II.

How the guideline value of Double Tank Colony has changed

The guideline value of Double Tank Colony has seen several revisions over the years. In 2007, the value was Rs 1,210 per sq.ft, which increased significantly to Rs 7,000 per sq.ft in 2012. However, there was a decrease to Rs 4,690 per sq.ft in 2017. The value then rose to Rs 7,000 per sq.ft in 2023, and currently stands at Rs 7,700 per sq.ft as of the 2024 revision. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 10%. The overall change from 2007 to 2024 is a substantial increase of 536%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, making the current value for Double Tank Colony above this median.

• Dharman Street: Rs 4,900 per sq.ft (2024)
• Dr. Ambedkar Salai: Rs 8,800 per sq.ft (2024)
• Dr. Govindan Salai: Rs 7,700 per sq.ft (2024)
• Dr. Kalaingnar Street (M.G.R.Nagar): Rs 3,300 per sq.ft (2024)
• Dr. Kannu Nagar 10th Kamarajar Street: Rs 2,200 per sq.ft (2024)
• Dr. Kannu Nagar Main road (N.P): Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Double Tank Colony

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, and the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Double Tank Colony?

The Sub Registrar Office that covers Double Tank Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Double Tank Colony?

The current guideline value of Double Tank Colony is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,210 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, with various revisions in between, including a decrease in 2017.

What is the median guideline value in Kodambakkam?

The median guideline value for streets in Kodambakkam is Rs 4,900 per sq.ft, with Double Tank Colony's value being above this median.

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

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.

Which office handles registrations for Double Tank Colony?

The Ashok Nagar Sub Registrar Office handles registrations for Double Tank Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.