Guideline Value for Kolathur Housing Board Tenament West Street

Kolathur Housing Board Tenament West Street guideline value

The current guideline value for Kolathur Housing Board Tenament West Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

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

The guideline value for Kolathur Housing Board Tenament West 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, it then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 2,500 per sq.ft, followed by the latest revision in 2024, which set the value at Rs 2,700 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it rose by 8%. The overall change from 2007 to 2024 reflects a substantial increase of 170%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Kolathur Housing Board Tenament West Street is below this median.

• Kolathur Housing Board Tenament West 2nd Cross 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 South Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament North Street: Rs 2,700 per sq.ft (2024)
• Kolathur Housing Board Tenament East 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 West Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total 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 fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

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

The Kolathur Housing Board Tenament West Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more details, you can find your SRO.

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

The guideline value is a critical aspect when registering property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of ownership. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value for Kolathur Housing Board Tenament West Street?

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

How 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, reflecting an overall increase of 170% over the years.

What is the land classification for Kolathur Housing Board Tenament West Street?

This street is classified as Residential Class II Type - I, indicating its designation for residential use.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for the area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000.