Guideline Value for KAILASH COLONY

Kailash Colony guideline value

The current guideline value of Kailash Colony is Rs 12,100 per sq.ft, effective from 1 July 2024. This area is located in Villivakkam village and falls under the Villivakkam SRO. The land classification for this street is Residential Class I Type - II.

How the guideline value of Kailash Colony has changed

The guideline value for Kailash Colony has seen significant changes over the years. In 2002, the guideline value was Rs 755 per sq.ft. This increased to Rs 865 per sq.ft in 2003, marking a 15% rise. The value then jumped to Rs 1,750 per sq.ft in 2007, reflecting a 102% increase. By 2012, it reached Rs 11,000 per sq.ft, which was a substantial increase of 529%. However, it dropped to Rs 7,370 per sq.ft in 2017, resulting in a decrease of 33%. The value then rose to Rs 11,000 per sq.ft in 2023, and finally reached Rs 12,100 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1503%. The revisions from 2017 to 2023 and from 2023 to 2024 show notable increases, while the period from 2012 to 2017 reflects a decrease in value. There are no other revisions with figures for this street in the register.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 13,200 per sq.ft, with a median value of Rs 4,900 per sq.ft. Kailash Colony's guideline value of Rs 12,100 per sq.ft is above this median.

• Jayanth Colony: Rs 9,800 per sq.ft (2024)
• Jawaharlal Nehru Road (100feet Road): Rs 13,200 per sq.ft (2024)
• Kambar Kudiyiruppu: Rs 12,100 per sq.ft (2024)
• Iswarya Flats: Rs 9,800 per sq.ft (2024)
• Imayam Colony: Rs 8,200 per sq.ft (2024)
• I.C.F.ANNEX (Near M.T.H.Road): Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kailash Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value amounts to Rs 1,21,00,000. The stamp duty at 7% would be Rs 8,47,000, and the registration fee at 2% would be Rs 2,42,000, bringing the total fees together to Rs 10,89,000. 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 detailed calculations.

Which Sub Registrar Office covers Kailash Colony?

The Sub Registrar Office that covers Kailash Colony is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Villivakkam. It serves as a benchmark for determining the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

During the registration process, the guideline value is compared with the sale price. The higher of the two values is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Kailash Colony?

The current guideline value of Kailash Colony is Rs 12,100 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 755 per sq.ft in 2002 to Rs 12,100 per sq.ft in 2024, reflecting an overall increase of 1503% over this period.

What is the land classification for Kailash Colony?

Kailash Colony is classified as Residential Class I Type - II, indicating its designation for residential development.

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

For a property valued at Rs 1,21,00,000, the stamp duty would be Rs 8,47,000 and the registration fee would be Rs 2,42,000, totaling Rs 10,89,000.

Where is the Sub Registrar Office located for Kailash Colony?

The Sub Registrar Office for Kailash Colony is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.