Guideline Value for ENGINEERS COLONY

Engineers Colony guideline value

The current guideline value of Engineers Colony in Padaalam village, under the Madurandakam SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Engineers Colony has changed

Since the 2002 revision, there have been several updates to the guideline value for Engineers Colony. However, the register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision also listed the guideline value at Rs 200 per sq.ft, which remained unchanged in the 2024 revision.

The 2024 revision shows a guideline value of Rs 200 per sq.ft, reflecting a 0% change from the previous year. This consistency indicates that the value has remained stable over the last two years.

Guideline values in Padaalam

In Padaalam, there are four streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median guideline value for these streets is Rs 100 per sq.ft, placing Engineers Colony's 2024 figure above that median.

• Athiththiya Nagar: Rs 100 per sq.ft (2024)
• Sri Saraswathi Nagar: Rs 100 per sq.ft (2024)
• Vijai Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Engineers Colony

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, totaling Rs 18,000. 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 details.

Which Sub Registrar Office covers Engineers Colony?

The Engineers Colony is covered by the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Padaalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers should be aware of the guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Engineers Colony?

The current guideline value of Engineers Colony is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 200 per sq.ft since the 2023 revision, with no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for Engineers Colony?

The land classification for Engineers Colony is Residential Special Type - I, indicating its designated use for residential purposes.

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

For a property valued at Rs 2,00,000, the stamp duty is Rs 14,000 at 7%, and the registration fee is Rs 4,000 at 2%, totaling Rs 18,000.

Which office handles property registration for Engineers Colony?

The Madurandakam Sub Registrar Office handles property registrations for Engineers Colony, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.