Guideline Value for Friends Colony

Friends Colony guideline value

The current guideline value of Friends Colony, located in Kovilpathagai village under the Ambattur SRO, is Rs 806 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Friends Colony has changed

The guideline value of Friends Colony has seen several revisions over the years. In the 2012 revision, the guideline value was set at Rs 600 per sq.ft. This figure was decreased by 33% to Rs 402 per sq.ft in the 2017 revision. Following this, the value increased by 100% in the 2023 revision, bringing it back to Rs 806 per sq.ft, where it remained unchanged in the 2024 revision.

It is important to note that the register has no figure for Friends Colony for the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 34%.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. The guideline value for Friends Colony is below this median.

• Friends Nagar: Rs 1,200 per sq.ft (2024)
• Frances Colony: Rs 880 per sq.ft (2024)
• Gananpathy Nagar (S.No.28/2): Rs 880 per sq.ft (2024)
• Ganapathi Avanue & Extn: Rs 870 per sq.ft (2024)
• Ganapathi Nagar: Rs 803 per sq.ft (2024)
• Ganapathi Nagar Extension: Rs 807 per sq.ft (2024)

Stamp duty and registration fee for property in Friends Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 806 per sq.ft, the total guideline value amounts to Rs 8,06,000. The stamp duty at 7% would be Rs 56,420, and the registration fee at 2% would be Rs 16,120, bringing the total fees to Rs 72,540. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Friends Colony?

The Friends Colony area is covered by the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration process of property transactions in Kovilpathagai. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for both parties. It is essential to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Friends Colony?

The current guideline value of Friends Colony is Rs 806 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 806 per sq.ft in 2023 and remained the same in 2024.

What is the land classification of Friends Colony?

Friends Colony is classified as Residential Class III Type - I.

Where can I find the registration office for Friends Colony?

The registration office covering Friends Colony is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 806 per sq.ft, the stamp duty would be Rs 56,420.