Guideline Value for Kolathur Road

Kolathur Road guideline value

The current guideline value of Kolathur Road in Peravallur village is Rs 4,200 per sq.ft, effective from 1 July 2024. This area falls under the Sembiam SRO and is classified as Mixed Type - I land.

How the guideline value of Kolathur Road has changed

Since 2002, the guideline value for Kolathur Road has seen significant changes. The value started at Rs 448 per sq.ft in 2002 and increased to Rs 488 per sq.ft in 2003, a rise of 9%. The value then experienced a substantial increase of 64% to reach Rs 800 per sq.ft in 2007. Following this, the value surged dramatically by 388% to Rs 3,900 per sq.ft in 2012. However, from 2012 to 2017, the value decreased by 33% to Rs 2,613 per sq.ft. The value then rose again to Rs 3,900 per sq.ft in 2023, and most recently, it increased by 8% to the current value of Rs 4,200 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 838%. There are no figures available for any other revisions for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Kolathur Road's current guideline value of Rs 4,200 per sq.ft is above this median.

• Koil Street 1st Lane: Rs 2,700 per sq.ft (2024)
• Koil Street: Rs 3,301 per sq.ft (2024)
• Krishnamurthy Street: Rs 3,301 per sq.ft (2024)
• Krishnamurthy Street @ Bashyam 3rd Street: Rs 3,301 per sq.ft (2024)
• Krishna Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Krishna Nagar 2nd Street: Rs 3,301 per sq.ft (2024)

Stamp duty and registration fee for property in Kolathur Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,200 per sq.ft, the total guideline value amounts to Rs 42,00,000. The stamp duty at 7% would be Rs 2,94,000, and the registration fee at 2% would be Rs 84,000, bringing the total to Rs 3,78,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kolathur Road?

The Kolathur Road falls under the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

When buying or selling property in Peravallur, the guideline value is a crucial factor in determining the stamp duty and registration fees. The guideline value serves as a benchmark for the minimum value at which property transactions are registered, ensuring that the government receives the appropriate revenue from property sales.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Accurate knowledge of the guideline value can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Kolathur Road?

The current guideline value of Kolathur Road is Rs 4,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 448 per sq.ft to Rs 4,200 per sq.ft in 2024, reflecting an overall increase of 838% over this period.

What is the land classification for Kolathur Road?

Kolathur Road is classified as Mixed Type - I land, which indicates its varied usage potential.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties on Kolathur Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 42,00,000, the stamp duty would be Rs 2,94,000.