Guideline Value for E.B. Colony 4th Street

E.B. Colony 4th Street guideline value

The current guideline value of E.B. Colony 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II Type - II.

How the guideline value of E.B. Colony 4th Street has changed

The guideline value for E.B. Colony 4th Street has undergone several revisions over the years. In 2007, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a rise of 167%. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value saw a substantial increase to Rs 4,000 per sq.ft in 2023, and further rose to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is the same as the current value for E.B. Colony 4th Street.

• E.B. Colony 4th Cross Street: Rs 4,400 per sq.ft (2024)
• E.B. Colony 4th Street 1st Cross Street: Rs 4,400 per sq.ft (2024)
• E.B.Colony 3rd Street Ramakrishna Nagar: Rs 4,400 per sq.ft (2024)
• E.B. Colony 4th Street 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• E.B. Colony 3rd Street 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• E.B.Colony 4th Street Ramakrishna Nagar: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in E.B. Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers E.B. Colony 4th Street?

The E.B. Colony 4th Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Velachery. It serves as the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value will be compared to the sale price, and the higher of the two will be used to calculate the stamp duty and registration fees. This ensures that all transactions are conducted transparently and fairly.

Frequently asked questions

What is the current guideline value for E.B. Colony 4th Street?

The current guideline value for E.B. Colony 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 193% over the years.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in E.B. Colony 4th Street is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for E.B. Colony 4th Street?

The Sub Registrar Office covering E.B. Colony 4th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for E.B. Colony 4th Street?

E.B. Colony 4th Street is classified as Residential Class II Type - II under the guideline value register.