Guideline Value for Hindu Colony 2nd Street

Hindu Colony 2nd Street guideline value

The current guideline value for Hindu Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of Hindu Colony 2nd Street has changed

The guideline value for Hindu Colony 2nd Street has seen several revisions over the years. In 2012, the guideline value was set at Rs 4,000 per sq.ft. This figure then decreased to Rs 2,680 per sq.ft in 2017. However, it increased significantly to Rs 4,000 per sq.ft in 2023, and most recently, it rose to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, followed by a substantial increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Hindu Colony 2nd Street's current value above the median.

• Hindu Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 25th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 25th Cross Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 24th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Hindu Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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, making the total cost for these fees Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hindu Colony 2nd Street?

The Sub Registrar Office that covers Hindu Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the sale price reflects the market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are necessary for legal ownership transfer. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Hindu Colony 2nd Street?

The current guideline value for Hindu Colony 2nd Street 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 from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for Hindu Colony 2nd Street?

Hindu Colony 2nd Street is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office handles the registration for Hindu Colony 2nd Street?

The Alandur Sub Registrar Office handles the registration for Hindu Colony 2nd Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.