Guideline Value for JOURNALIST COLONY

Journalist Colony guideline value

The current guideline value of Journalist Colony in Thiruvanmiyur village is Rs 9,900 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

How the guideline value of Journalist Colony has changed

The guideline value for Journalist Colony has seen several revisions over the years. In 2007, the value was Rs 3,000 per sq.ft, which increased to Rs 9,000 per sq.ft in 2012, marking a significant rise of 200%. However, from 2012 to 2017, the value decreased to Rs 6,030 per sq.ft, a drop of 33%. The value then rose to Rs 9,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the guideline value at Rs 9,900 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

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. Journalist Colony's 2024 figure aligns with this median.

• Justic Avenue: Rs 11,000 per sq.ft (2024)
• Justic Ramanujam Street: Rs 9,900 per sq.ft (2024)
• Jeevanantham Street: Rs 7,150 per sq.ft (2024)
• Kalaignar Karunanidhi Street: Rs 7,150 per sq.ft (2024)
• Jeevagan Street: Rs 11,000 per sq.ft (2024)
• Jayaram Street / Jayaram Nagar: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Journalist Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, making the total cost for these fees Rs 8,91,000. It is important to note that the 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 more accurate calculations.

Which Sub Registrar Office covers Journalist Colony?

The Journalist Colony falls under 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 is a critical factor in the registration process when buying or selling property in Thiruvanmiyur. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Journalist Colony?

The current guideline value of Journalist Colony is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, showing an overall increase of 230% over this period.

What are the stamp duty rates for properties in Journalist Colony?

The stamp duty for properties in Journalist Colony is 7% of the guideline value, and the registration fee is 2% of the guideline value.

Which office handles registrations for Journalist Colony?

The Chennai South Joint I Sub Registrar Office handles registrations for Journalist Colony, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that the government receives the appropriate revenue based on the property's minimum value.