Guideline Value for Kolathur Haridass Naidu Street (Swamy Ramalingam Colony)

Kolathur Haridass Naidu Street (Swamy Ramalingam Colony) guideline value

The current guideline value of Kolathur Haridass Naidu Street (Swamy Ramalingam Colony) is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Kolathur Haridass Naidu Street (Swamy Ramalingam Colony) has changed

The guideline value for Kolathur Haridass Naidu Street was last revised in 2024 to Rs 1,600 per sq.ft from Rs 1,500 per sq.ft in the 2012 revision. This represents a change of +7% over the 12-year period. The register has no figures for the years 2003, 2002, 2007, 2017, and 2023.

In the 2012 revision, the value was Rs 1,500 per sq.ft. Prior to that, there are no figures available for this street in the revisions for 2003, 2002, and 2007. The first recorded figure in the register is from 2012, which was Rs 1,500 per sq.ft.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with the 2024 guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value is Rs 1,600 per sq.ft, which is equal to the current guideline value of Kolathur Haridass Naidu Street.

• Kohinoor 3rd Street: Rs 1,300 per sq.ft (2024)
• Kohinoor 2nd Street: Rs 1,300 per sq.ft (2024)
• Kohinoor 1st Street: Rs 1,300 per sq.ft (2024)
• Kolkatta Shop Road ( Ward No.13 ): Rs 1,600 per sq.ft (2024)
• K.M. Thottam: Rs 1,300 per sq.ft (2024)
• K.K.Thazhai Main Rd ( Ward No.2 ): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Kolathur Haridass Naidu Street (Swamy Ramalingam Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total cost for these fees to Rs 1,44,000. 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 information.

Which Sub Registrar Office covers Kolathur Haridass Naidu Street (Swamy Ramalingam Colony)?

The Sub Registrar Office that covers Kolathur Haridass Naidu Street (Swamy Ramalingam Colony) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is documented accurately. The fees are calculated based on this value or the sale price, whichever is higher, ensuring compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Kolathur Haridass Naidu Street?

The current guideline value of Kolathur Haridass Naidu Street (Swamy Ramalingam Colony) is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, representing a 7% increase. The register has no figures for the years 2003, 2002, 2007, 2017, and 2023.

What are the guideline values of other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 7,500 per sq.ft. Kolathur Haridass Naidu Street's value is equal to the median of Rs 1,600 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,44,000.

Which office handles registrations for Kolathur Haridass Naidu Street?

The Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, handles registrations for Kolathur Haridass Naidu Street (Swamy Ramalingam Colony).