Guideline Value for Kandasamy Colony

Kandasamy Colony guideline value

The current guideline value of Kandasamy Colony, located in Selaiyur village, is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class I Type - III.

How the guideline value of Kandasamy Colony has changed

The guideline value of Kandasamy Colony has undergone several revisions over the years. In 2007, the guideline value was set at Rs 600 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 317% rise. However, it then decreased to Rs 1,675 per sq.ft in 2017, which represented a 33% drop. Following this, the value rose to Rs 2,500 per sq.ft in 2023, and most recently to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 358%. The revisions for the years 2002 and 2003 do not have any figures recorded for Kandasamy Colony in the register.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, positioning Kandasamy Colony's 2024 figure above this median.

• Kanagaraj Street: Rs 1,100 per sq.ft (2024)
• Kanaga Nagar: Rs 1,100 per sq.ft (2024)
• Kannadasan Street: Rs 1,100 per sq.ft (2024)
• Kambar Street: Rs 3,300 per sq.ft (2024)
• Kannaiyapuram: Rs 850 per sq.ft (2024)
• Kannaki Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kandasamy Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kandasamy Colony?

Kandasamy Colony is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When engaging in property transactions, it is essential to refer to the current guideline value to understand the financial implications. This value can significantly affect the overall cost of the transaction, making it important to stay informed about any changes or updates.

Frequently asked questions

What is the current guideline value of Kandasamy Colony?

The current guideline value of Kandasamy Colony is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 358% over the years.

What are the other streets in Selaiyur and their guideline values?

Other streets in Selaiyur include Kanagaraj Street, Kanaga Nagar, and Kannadasan Street, all at Rs 1,100 per sq.ft, while Kambar Street is at Rs 3,300 per sq.ft, and Kannaiyapuram is at Rs 850 per sq.ft.

What fees are associated with buying property in Kandasamy Colony?

When buying property in Kandasamy Colony, buyers should expect to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kandasamy Colony located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.