Guideline Value for Kathiravan Colony

Kathiravan Colony guideline value

The current guideline value of Kathiravan Colony is Rs 11,500 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village, under the AnnaNagar SRO, and is classified as Residential Special Type - I.

How the guideline value of Kathiravan Colony has changed

The guideline value for Kathiravan Colony has undergone several revisions since 2007. The 2007 revision set the value at Rs 2,200 per sq.ft, which increased significantly to Rs 10,500 per sq.ft in the 2012 revision, marking a substantial rise of 377%. However, the value then decreased to Rs 7,035 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision brought the value back up to Rs 10,500 per sq.ft, and the latest revision in 2024 sees it at Rs 11,500 per sq.ft, an increase of 10% from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 423%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value is Rs 11,500 per sq.ft, which is equal to the current guideline value of Kathiravan Colony.

• Kamaraj Street: Rs 3,300 per sq.ft (2024)
• J- Block (West)-2nd Avenue 1961A Thirumani Amman Koil: Rs 15,900 per sq.ft (2024)
• Magestic Colony: Rs 11,500 per sq.ft (2024)
• I.O.B. Staff College: Rs 11,500 per sq.ft (2024)
• H Block west 9th Street: Rs 11,500 per sq.ft (2024)
• H Block west 8th Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kathiravan Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 11,500 per sq.ft, the total guideline value would be Rs 1,15,00,000. The stamp duty at 7% would amount to Rs 8,05,000, and the registration fee at 2% would be Rs 2,30,000, bringing the total charges to Rs 10,35,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kathiravan Colony?

Kathiravan Colony falls under the jurisdiction of the AnnaNagar 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 Thirumangalam

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumangalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Kathiravan Colony?

The current guideline value of Kathiravan Colony is Rs 11,500 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 2,200 per sq.ft in 2007 to Rs 11,500 per sq.ft in 2024, reflecting an overall increase of 423% over this period.

What are the registration fees for property in Kathiravan Colony?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office handles Kathiravan Colony?

The AnnaNagar Sub Registrar Office manages Kathiravan Colony, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification of Kathiravan Colony?

Kathiravan Colony is classified as Residential Special Type - I, which influences its guideline value and usage.