Guideline Value for Kolla Colony

Kolla Colony guideline value

The current guideline value of Kolla Colony, located in Vayaloor village under the Sunguvarchattram SRO, is Rs 105 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class III Type - I land classification.

How the guideline value of Kolla Colony has changed

Over the years, the guideline value of Kolla Colony has seen several revisions. The 2012 revision set the value at Rs 100 per sq.ft, which was then reduced to Rs 67 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 100 per sq.ft, and the most recent 2024 revision has raised it to Rs 105 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a 5% increase in the guideline value.

Guideline values in Vayaloor

In Vayaloor, there are 18 streets under the Sunguvarchattram SRO that have a 2024 guideline value ranging from Rs 105 to Rs 155 per sq.ft, with the median being Rs 105 per sq.ft. Kolla Colony's 2024 figure matches this median.

• Kulakarai Street: Rs 155 per sq.ft (2024)
• Mettu Colony: Rs 105 per sq.ft (2024)
• GP Nagar: Rs 155 per sq.ft (2024)
• Palla Colony: Rs 105 per sq.ft (2024)
• Perumal Kovil Street: Rs 126 per sq.ft (2024)
• School Street: Rs 155 per sq.ft (2024)

Stamp duty and registration fee for property in Kolla Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 105 per sq.ft, the total guideline value amounts to Rs 1,05,000. The stamp duty at 7% would be Rs 7,350, and the registration fee at 2% would be Rs 2,100, bringing the total charges to Rs 9,450. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kolla Colony?

Kolla Colony falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vayaloor. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the buyer must pay these fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with local regulations.

Frequently asked questions

What is the current guideline value of Kolla Colony?

The current guideline value of Kolla Colony is Rs 105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then back to Rs 100 per sq.ft in 2023, and finally to Rs 105 per sq.ft in 2024.

What are the other streets in Vayaloor with guideline values?

Other streets in Vayaloor include Kulakarai Street at Rs 155 per sq.ft, Mettu Colony at Rs 105 per sq.ft, GP Nagar at Rs 155 per sq.ft, Palla Colony at Rs 105 per sq.ft, Perumal Kovil Street at Rs 126 per sq.ft, and School Street at Rs 155 per sq.ft.

What are the stamp duty and registration fees for property in Kolla Colony?

For a property valued at Rs 1,05,000, the stamp duty would be Rs 7,350 and the registration fee would be Rs 2,100, totaling Rs 9,450. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Kolla Colony located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, in the Chengalpattu registration zone.