Guideline Value for Kolathur Housing Board Tenament East Street

Kolathur Housing Board Tenament East Street guideline value

The current guideline value of Kolathur Housing Board Tenament East Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Kolathur Housing Board Tenament East Street has changed

The guideline value for Kolathur Housing Board Tenament East Street has undergone several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this value saw a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the current 2024 figure, there has been a significant increase of 170%. The register does not provide figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Kolathur Housing Board Tenament East Street below this median.

• Kolathur Housing Board Tenament North Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament South Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament West 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament West 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament West Street: Rs 2,700 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Kolathur Housing Board Tenament East Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Kolathur Housing Board Tenament East Street?

The Kolathur Housing Board Tenament East Street is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Kolathur Housing Board Tenament East Street?

The current guideline value of Kolathur Housing Board Tenament East Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 170% over the years.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,43,000 at the current rate.

Which office handles property registrations in Kolathur?

The Sembiam Sub Registrar Office handles property registrations for Kolathur Housing Board Tenament East Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and market trends in the area. It is revised periodically to reflect changes in the property market.