Guideline Value for HILLS COLONY

Hills Colony guideline value

The current guideline value of Hills Colony in Karunguzhi village is Rs 401 per sq.ft, effective from 1 July 2024. This area falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Hills Colony has changed

The guideline value for Hills Colony has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 40 per sq.ft. This increased significantly to Rs 400 per sq.ft in 2012, marking a substantial increase of 900%. However, the value dropped to Rs 268 per sq.ft in 2017, a decrease of 33%. The value then rose to Rs 400 per sq.ft in 2023, and remained stable at Rs 401 per sq.ft in the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 903%.

Guideline values in Karunguzhi

In Karunguzhi, there are 37 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 401 to Rs 1,000 per sq.ft, with a median value of Rs 401 per sq.ft. The guideline value for Hills Colony aligns with this median.

• Gnangrishwaranpettai: Rs 600 per sq.ft (2024)
• Gnananbigai Pettai: Rs 501 per sq.ft (2024)
• Eri Colony: Rs 401 per sq.ft (2024)
• East Pillayar Koil Street: Rs 401 per sq.ft (2024)
• Karunguzhi GST ROAD: Rs 501 per sq.ft (2024)
• Karunkuzhi Chetti Steet: Rs 401 per sq.ft (2024)

Stamp duty and registration fee for property in Hills Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 401 per sq.ft, the total guideline value would be Rs 4,01,000. The stamp duty at 7% would amount to Rs 28,070, and the registration fee at 2% would be Rs 8,020, bringing the total fees together to Rs 36,090. 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 Hills Colony?

The Hills 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 Karunguzhi

The guideline value is a crucial factor when buying or selling property in Karunguzhi. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value. This value is used to calculate the stamp duty and registration fees that must be paid during the property transaction.

When registering a property, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Hills Colony?

The current guideline value of Hills Colony is Rs 401 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 40 per sq.ft in 2007 to Rs 401 per sq.ft in 2024, an overall increase of 903%.

What are the other streets in Karunguzhi with their guideline values?

Other streets in Karunguzhi include Gnangrishwaranpettai at Rs 600 per sq.ft, Gnananbigai Pettai at Rs 501 per sq.ft, Eri Colony at Rs 401 per sq.ft, East Pillayar Koil Street at Rs 401 per sq.ft, Karunguzhi GST ROAD at Rs 501 per sq.ft, and Karunkuzhi Chetti Steet at Rs 401 per sq.ft.

What are the fees associated with buying property in Hills Colony?

When buying property in Hills Colony, the total fees include stamp duty at 7% and a registration fee at 2% of the guideline value. For example, for a property valued at Rs 4,01,000, the total fees would amount to Rs 36,090.

Where can I find the Sub Registrar Office for Hills Colony?

The Sub Registrar Office covering Hills Colony is the Madurandakam SRO, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.