Guideline Value for Kollaimedu Colony

Kollaimedu Colony guideline value

The current guideline value of Kollaimedu Colony is Rs 250 per sq.ft, effective from 1 July 2024. This area is located in Acharapakkam village under the Acchirapakkam SRO, classified as Residential Class I Type - III.

How the guideline value of Kollaimedu Colony has changed

The guideline value for Kollaimedu Colony has undergone several revisions over the years. In 2007, the value was Rs 72 per sq.ft, which increased to Rs 150 per sq.ft in 2012, marking a rise of 108%. However, in 2017, the value was further adjusted to Rs 100 per sq.ft, reflecting a decrease of 33%. The most significant change occurred between 2017 and 2023, where the value jumped to Rs 250 per sq.ft, a remarkable increase of 150%. The current value remains unchanged from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 247%.

Guideline values in Acharapakkam

In Acharapakkam, there are 61 streets under the Acchirapakkam SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft, with a median value of Rs 400 per sq.ft. Kollaimedu Colony's current guideline value is below this median.

• Koil Santhu Street Ward 11: Rs 400 per sq.ft (2024)
• Kothandaramar Nagar Ward 3: Rs 350 per sq.ft (2024)
• Kazhani Vellala Colony (Palla Colony) Ward 2: Rs 250 per sq.ft (2024)
• Kasturi Nagar: Rs 400 per sq.ft (2024)
• Karimedu: Rs 400 per sq.ft (2024)
• Kannai Koil Madha Street Ward 2: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Kollaimedu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value is Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total fees to Rs 22,500. 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 Kollaimedu Colony?

Kollaimedu Colony falls under the jurisdiction of the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property registration in Acharapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the necessary fees and taxes. It is essential to refer to the latest guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Kollaimedu Colony?

The current guideline value of Kollaimedu Colony is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2007 to Rs 250 per sq.ft in 2024, reflecting an overall increase of 247%.

What is the land classification for Kollaimedu Colony?

Kollaimedu Colony is classified as Residential Class I Type - III.

Where can I find the Acchirapakkam Sub Registrar Office?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kollaimedu Colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at Rs 250 per sq.ft, the total guideline value is Rs 2,50,000, leading to a stamp duty of Rs 17,500.