Guideline Value for Hindu Colony 7th Street

Hindu Colony 7th Street guideline value

The current guideline value of Hindu Colony 7th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification is Residential Class I Type - II.

How the guideline value of Hindu Colony 7th Street has changed

The guideline value for Hindu Colony 7th Street has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 4,000 per sq.ft. This was revised to Rs 2,680 per sq.ft in 2017, marking a decrease of 33%. In 2023, the value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, making the 2024 guideline value of Hindu Colony 7th Street above this median.

• Hindu Colony 7th Cross Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 8th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 6th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 9th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Hindu Colony 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Hindu Colony 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Hindu Colony 7th Street?

The Sub Registrar Office that covers Hindu Colony 7th 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 information.

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

The guideline value is a crucial factor during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, both parties must be aware of the current guideline value, as it affects the financial obligations involved in the transaction. The higher of the guideline value or the sale price is used for calculating applicable duties and fees.

Frequently asked questions

What is the current guideline value of Hindu Colony 7th Street?

The current guideline value of Hindu Colony 7th 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 seen various changes: it was Rs 4,000 per sq.ft in 2012, decreased to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally set at Rs 4,400 per sq.ft in 2024.

What is the land classification for Hindu Colony 7th Street?

The land classification for Hindu Colony 7th Street is Residential Class I Type - II.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 3,96,000 in fees.

Where can I find the Sub Registrar Office for Hindu Colony 7th Street?

The Sub Registrar Office for Hindu Colony 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.