Guideline Value for Judges Colony

Judges Colony guideline value

The current guideline value of Judges Colony, located in Kottivakkam village under the Adayar SRO, is Rs 4,400 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Judges Colony has changed

The guideline value for Judges Colony has seen significant changes over the years. In 2002, the guideline value was Rs 257 per sq.ft. This figure increased to Rs 520 per sq.ft in 2003, marking a rise of 102%. The next revision in 2007 saw a substantial increase to Rs 1,800 per sq.ft, which is an increase of 246%. However, from 2007 to 2012, the value dropped to Rs 4,000 per sq.ft, a decrease of 33%.

In 2017, the guideline value rose again to Rs 2,680 per sq.ft, reflecting a 49% increase from the previous figure. The most recent revision in 2023 set the value at Rs 4,000 per sq.ft. Finally, the current guideline value of Rs 4,400 per sq.ft, effective from July 2024, represents a 10% increase from 2023. Overall, from 2002 to 2024, the guideline value has increased by 1,612%.

Guideline values in Kottivakkam

Kottivakkam village has 284 streets under the Adayar SRO, with 2024 guideline values ranging from Rs 1,700 to Rs 8,500 per sq.ft. The median value is Rs 3,900 per sq.ft, placing Judges Colony's 2024 figure above this median.

• Kalathu Mettu 1st Cross Lane: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Kalathu Mettu 5th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Judges Colony

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, totaling 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Judges Colony?

The Judges Colony area is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kottivakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Judges Colony?

The current guideline value of Judges Colony 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 increased significantly from Rs 257 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, representing an overall increase of 1,612%.

What is the land classification of Judges Colony?

Judges Colony falls under the Residential Class I Type - I land classification.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 3,96,000.

Which Sub Registrar Office covers Judges Colony?

The Adayar Sub Registrar Office covers Judges Colony, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.