Guideline Value for Kollai Colony Road

Kollai Colony Road guideline value

The current guideline value of Kollai Colony Road is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in the village of Mangadu -A and falls under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kollai Colony Road has changed

The guideline value for Kollai Colony Road has seen significant changes over the years. In the 2017 revision, the value was Rs 1,139 per sq.ft. This increased to Rs 1,700 per sq.ft in the 2023 revision, marking a 49% rise. The current figure of Rs 1,870 per sq.ft from the 2024 revision reflects a further increase of 10% from the 2023 revision.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,870 per sq.ft, which is equal to the current guideline value of Kollai Colony Road.

• Kosatheru: Rs 2,200 per sq.ft (2024)
• K.K. Nagar Ist Cross Street to VIII Cross st.: Rs 1,980 per sq.ft (2024)
• K.K. Nagar Colony Road: Rs 1,980 per sq.ft (2024)
• K.K.Nagar: Rs 1,980 per sq.ft (2024)
• Kirubanandha Variar Nagar: Rs 1,870 per sq.ft (2024)
• Keezh Ragunathapuram: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kollai Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total cost to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Kollai Colony Road?

The Sub Registrar Office that covers Kollai Colony Road is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor when registering property transactions in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is important for both the buyer and seller. It helps in maintaining transparency in property transactions and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Kollai Colony Road?

The current guideline value of Kollai Colony Road is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,139 per sq.ft to Rs 1,870 per sq.ft by 2024, marking a total increase of 64% over the years.

What is the registration fee for property in Kollai Colony Road?

The registration fee for property in Kollai Colony Road is calculated at 2% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 37,400.

Which Sub Registrar Office covers the area of Kollai Colony Road?

The Kunrathur Sub Registrar Office covers Kollai Colony Road, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 18,70,000, the stamp duty would be Rs 1,30,900.