Guideline Value for K.A. THANGAVEL COLONY

K.A. Thangavel Colony guideline value

The current guideline value for K.A. Thangavel Colony, located in Puliyur village under the Kodambakkam SRO, is Rs 5,000 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of K.A. Thangavel Colony has changed

Over the years, the guideline value of K.A. Thangavel Colony has seen significant changes. The earliest recorded figure was Rs 736 per sq.ft in 2002, which increased to Rs 808 per sq.ft in 2003, marking a 10% rise. The value then saw a substantial increase to Rs 1,200 per sq.ft in 2007, a jump of 49%. In 2012, the figure was Rs 4,600 per sq.ft, reflecting a remarkable 283% increase from the previous revision. However, it decreased to Rs 3,082 per sq.ft in 2017, a drop of 33%.

From 2017 to 2023, the guideline value rose significantly to Rs 4,600 per sq.ft, showing a 49% increase. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, which is a 9% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 579%.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. The guideline value for K.A. Thangavel Colony is below this median.

• Kasthuri Bai Street: Rs 4,400 per sq.ft (2024)
• Kasthuri Bai Nagar: Rs 4,400 per sq.ft (2024)
• Karumari Amman Koil Street: Rs 5,000 per sq.ft (2024)
• Khan Street: Rs 6,300 per sq.ft (2024)
• Karnan Street: Rs 6,300 per sq.ft (2024)
• Karnan Lane: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in K.A. Thangavel Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers K.A. Thangavel Colony?

The K.A. Thangavel Colony is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Puliyur. 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, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring that the transaction is recorded accurately.

Frequently asked questions

What is the current guideline value of K.A. Thangavel Colony?

The current guideline value for K.A. Thangavel Colony is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 736 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 579% over the years.

What is the land classification for K.A. Thangavel Colony?

K.A. Thangavel Colony falls under the Residential Class III Type - I land classification.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in K.A. Thangavel Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000 at a rate of 7%.