Guideline Value for KOLADI ROAD

Koladi Road guideline value

The current guideline value of Koladi Road in Koladi village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Koladi Road has changed

Over the years, the guideline value of Koladi Road has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which then increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% rise. However, the value dropped by 33% to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision saw a substantial increase to Rs 1,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

In summary, the guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, which is an overall increase of 450%. The revisions for the years 2002 and 2003 do not have figures available for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Koladi Road's current guideline value is above this median.

• Koladi Selliamman Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Koladi Mayana Road: Rs 1,650 per sq.ft (2024)
• Koladi Yadhawal Street Main And Cross: Rs 1,650 per sq.ft (2024)
• Koladi Main Road: Rs 1,650 per sq.ft (2024)
• Koladi Main Cross Road: Rs 1,650 per sq.ft (2024)
• Koladi Krishna Nagar Main Road Cross: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Koladi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would amount to Rs 16,50,000. The stamp duty, charged at 7%, would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Koladi Road?

The Sub Registrar Office that covers Koladi Road is the Chennai South Joint II 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 details.

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

The guideline value is a crucial factor when buying or selling property in Koladi. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When a property is sold, the buyer and seller may negotiate a sale price, but the registration must reflect the guideline value or the agreed sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the property's value.

Frequently asked questions

What is the current guideline value of Koladi Road?

The current guideline value of Koladi Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, with several revisions in between, including a drop in 2017.

What is the land classification for Koladi Road?

Koladi Road is classified as Residential Class I Type - II, indicating its suitability for residential development.

What are the stamp duty rates for properties in Koladi Road?

The stamp duty for properties in Koladi Road is charged at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

Where is the Sub Registrar Office for Koladi Road located?

The Sub Registrar Office for Koladi Road is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.