Guideline Value for India Cement Colony

India Cement Colony guideline value

The current guideline value of India Cement Colony, located in Noombal village under the Kunrathur SRO, is Rs 2,860 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of India Cement Colony has changed

The guideline value for India Cement Colony has seen significant changes over the years. In 2003, the value was Rs 145 per sq.ft, which rose to Rs 1,742 per sq.ft in 2017, marking an increase of 1101%. The value further increased to Rs 2,600 per sq.ft in 2023, representing a 49% rise from the previous revision. The latest revision in 2024 has set the value at Rs 2,860 per sq.ft, reflecting a 10% increase from 2023.

There are no figures available for the years 2002, 2007, and 2012 in the register for this street.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing India Cement Colony's 2024 figure above that median.

• India Cement Paniyalar Kudiyiruppu: Rs 2,860 per sq.ft (2024)
• Harihand Amara: Rs 2,090 per sq.ft (2024)
• Green Scape: Rs 4,290 per sq.ft (2024)
• Jai Nagar: Rs 1,760 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 1,760 per sq.ft (2024)
• Jay Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in India Cement Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, while the registration fee at 2% would be Rs 57,200. Together, the total cost for stamp duty and registration would be Rs 2,57,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers India Cement Colony?

The Sub Registrar Office that covers India Cement Colony is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is an important factor when registering property transactions in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price reflects the market conditions as per the registration department's records.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate applicable duties and fees. This ensures transparency and fairness in the registration process, as it prevents undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of India Cement Colony?

The current guideline value of India Cement Colony is Rs 2,860 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 145 per sq.ft in 2003 to Rs 2,860 per sq.ft in 2024, marking an overall increase of 1872%. The most recent revision in 2024 saw a 10% rise from the 2023 figure of Rs 2,600 per sq.ft.

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

Other streets in Noombal include India Cement Paniyalar Kudiyiruppu at Rs 2,860 per sq.ft, Harihand Amara at Rs 2,090 per sq.ft, and Green Scape at Rs 4,290 per sq.ft, among others.

What is the stamp duty rate for property in India Cement Colony?

The stamp duty rate for property transactions in India Cement Colony is 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069. This office handles the registration of properties in India Cement Colony.