Guideline Value for E.B. Colony

E.B. Colony guideline value

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

How the guideline value of E.B. Colony has changed

The guideline value of E.B. Colony has undergone several revisions over the years. In 2002, the value was Rs 273 per sq.ft, which increased to Rs 559 per sq.ft in 2003, marking a significant rise of 105%. The value continued to grow, reaching Rs 1,500 per sq.ft in 2007, an increase of 168%. By 2012, the guideline value remained at Rs 4,000 per sq.ft, unchanged until 2023, when it was again Rs 4,000 per sq.ft. The most recent revision in 2024 saw the guideline value rise to Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there is no figure available for the year 2017 for this street in the register. Overall, from 2002 to 2024, the guideline value has increased by 1512%.

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 is Rs 4,400 per sq.ft, which is equal to the current value of E.B. Colony.

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

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

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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers E.B. Colony?

The E.B. Colony is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Velachery. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is taken into account to calculate the applicable duties. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from the sale.

Frequently asked questions

What is the current guideline value of E.B. Colony?

The current guideline value of E.B. Colony 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 significantly from Rs 273 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1512% over the years.

What is the stamp duty rate for properties in E.B. Colony?

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

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

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

Are there other streets in Velachery with the same guideline value?

Yes, several other streets in Velachery have the same guideline value of Rs 4,400 per sq.ft for the year 2024, including E.B. Colony 1st Cross Street and E.B. Colony 2nd Street.