Guideline Value for INDIAN COLONY (SAI STREET)

Indian Colony (Sai Street) guideline value

The current guideline value of Indian Colony (Sai Street) in Kilkattalai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Pallavaram SRO and is classified as Residential Class I Type - III.

How the guideline value of Indian Colony (Sai Street) has changed

The guideline value for Indian Colony (Sai Street) has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and currently stands at Rs 2,200 per sq.ft as of the 2024 revision. The register has no figures for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, the subsequent revisions show a 49% increase from 2017 to 2023, followed by a 10% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, making the current guideline value of Indian Colony (Sai Street) below the median.

• Indian Colony: Rs 2,200 per sq.ft (2024)
• Iyappa Nagar: Rs 2,750 per sq.ft (2024)
• Iyappan Koil Street: Rs 2,750 per sq.ft (2024)
• Guruvayurappan Nagar: Rs 2,530 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 2,160 per sq.ft (2024)
• Gowthama Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Indian Colony (Sai Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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 Indian Colony (Sai Street)?

The Indian Colony (Sai Street) is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It serves as a benchmark for determining the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately in the official records. This helps maintain transparency and legality in property transactions within the region.

Frequently asked questions

What is the current guideline value of Indian Colony (Sai Street)?

The current guideline value of Indian Colony (Sai Street) is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and is now Rs 2,200 per sq.ft in 2024.

What is the median guideline value for streets in Kilkattalai?

The median guideline value for the 194 streets in Kilkattalai is Rs 2,530 per sq.ft, which means that Indian Colony's current value is below this median.

What are the stamp duty and registration fees for property in Indian Colony?

For a 1,000 sq.ft plot valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which office handles the registration for Indian Colony (Sai Street)?

The registration for Indian Colony (Sai Street) is handled by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.