Guideline Value for HOUSING BOARD COLONY

Housing Board Colony guideline value

The current guideline value for Housing Board Colony in Thiruvanmiyur village is Rs 7,150 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

How the guideline value of Housing Board Colony has changed

Over the years, the guideline value for Housing Board Colony has seen several revisions. The 2012 revision set the value at Rs 6,500 per sq.ft, which was then reduced to Rs 4,355 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 6,500 per sq.ft in the 2023 revision, and finally, it reached Rs 7,150 per sq.ft in the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased by 49%, and from 2023 to 2024, there was a further increase of 10%. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft, with a median value of Rs 9,900 per sq.ft. The guideline value for Housing Board Colony is below this median.

• Ilango Nagar: Rs 7,150 per sq.ft (2024)
• Ilango Nagar Main Road: Rs 7,150 per sq.ft (2024)
• Indian Bank Employee Quarters: Rs 9,900 per sq.ft (2024)
• Indian Medical Co-Operative Employee Qut: Rs 9,900 per sq.ft (2024)
• Indra Nagar 10th Lane: Rs 4,950 per sq.ft (2024)
• Indra Nagar 11th Lane: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Housing Board Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty at 7% would amount to Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, bringing the total fees to Rs 6,43,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Housing Board Colony?

The Housing Board Colony is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When buying or selling property, the guideline value helps to provide a fair assessment of the property's worth, which is essential for both buyers and sellers. This value is used to determine the financial obligations associated with the transaction, such as stamp duty and registration fees.

Frequently asked questions

What is the current guideline value for Housing Board Colony?

The current guideline value for Housing Board Colony is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

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

Other streets in Thiruvanmiyur include Ilango Nagar and Ilango Nagar Main Road, both at Rs 7,150 per sq.ft, and Indian Bank Employee Quarters and Indian Medical Co-Operative Employee Qut, both at Rs 9,900 per sq.ft.

How is stamp duty calculated for properties in Housing Board Colony?

Stamp duty for properties in Housing Board Colony is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a total stamp duty of Rs 5,00,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Housing Board Colony?

The Sub Registrar Office covering Housing Board Colony is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find more details online.