Guideline Value for KOLLAIMETTU COLONY (CHEN)

Kollaimettu Colony (Chen) guideline value

The current guideline value of Kollaimettu Colony (Chen) is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under Sengundram - 1 village and is classified as Residential Class I Type - III, within the Chengleput Joint II SRO.

How the guideline value of Kollaimettu Colony (Chen) has changed

The guideline value for Kollaimettu Colony (Chen) has seen several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 600 per sq.ft. This figure remained the same until the next revision in 2017, which saw a decrease to Rs 402 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 600 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 660 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for Kollaimettu Colony (Chen) is below this median.

• Kollamettu Street (Chen): Rs 660 per sq.ft (2024)
• Kottapuli Varadharajan Nagar: Rs 1,321 per sq.ft (2024)
• Kozhi Pannai (Chen): Rs 880 per sq.ft (2024)
• Kasthuri Naga (Chen): Rs 770 per sq.ft (2024)
• Karumari Nagar (Chen): Rs 770 per sq.ft (2024)
• Kulakkarai Street (Chen): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kollaimettu Colony (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling Rs 59,400. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kollaimettu Colony (Chen)?

The Kollaimettu Colony (Chen) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

When buying or selling property in Sengundram - 1, the guideline value is a crucial factor in determining the applicable stamp duty and registration fees. The guideline value serves as a benchmark for calculating these fees, ensuring that they are based on the official valuation of the property.

This value is particularly important during the registration process, as it helps to standardize property valuations across the area, providing transparency and consistency in real estate transactions.

Frequently asked questions

What is the current guideline value of Kollaimettu Colony (Chen)?

The current guideline value of Kollaimettu Colony (Chen) is Rs 660 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 600 per sq.ft in 2012 to Rs 660 per sq.ft in 2024. There was a notable increase of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024.

What is the land classification of Kollaimettu Colony (Chen)?

Kollaimettu Colony (Chen) is classified as Residential Class I Type - III. This classification is important for understanding the type of development permitted in the area.

What are the stamp duty and registration fees for property in Kollaimettu Colony (Chen)?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Kollaimettu Colony (Chen)?

The Chengleput Joint II Sub Registrar Office handles the registration for Kollaimettu Colony (Chen). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.