Guideline Value for Kujalamba Colony

Kujalamba Colony guideline value

The current guideline value of Kujalamba Colony is Rs 300 per sq.ft, effective from 1 July 2024. This area is located in Kilay village under the Sriperumpudur SRO and is classified as Residential Class I Type - I.

How the guideline value of Kujalamba Colony has changed

Over the years, the guideline value for Kujalamba Colony has seen several revisions. The most recent revision in 2024 maintains the value at Rs 300 per sq.ft, the same as the 2023 revision. Prior to that, the 2017 revision recorded a value of Rs 201 per sq.ft, which was a significant increase of 49% from the previous 2012 figure of Rs 300 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33% in the guideline value, but overall, from 2012 to 2024, the value remains unchanged at Rs 300 per sq.ft. The stability in the guideline value from 2023 to 2024 indicates no change in the valuation during this period.

Guideline values in Kilay

In Kilay village, there are 31 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, which is equal to the guideline value of Kujalamba Colony.

• Kutty Nagar: Rs 300 per sq.ft (2024)
• Lingeswarar Nagar: Rs 200 per sq.ft (2024)
• Lingeswar Nagar: Rs 200 per sq.ft (2024)
• Marathamannam koil st: Rs 300 per sq.ft (2024)
• J.P. Nagar: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Kujalamba Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total charges to Rs 27,000. It is essential to 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 Kujalamba Colony?

The Sub Registrar Office that covers Kujalamba Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilay. It is used to determine the stamp duty and registration fees applicable to the transaction, ensuring that these costs are calculated based on the official valuation of the property.

During the registration process, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that all transactions are conducted fairly and transparently, in accordance with the established guidelines.

Frequently asked questions

What is the current guideline value of Kujalamba Colony?

The current guideline value of Kujalamba Colony is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft from 2012 to 2024, with a decrease to Rs 201 per sq.ft in 2017. The value was also Rs 300 per sq.ft in 2023 and 2024, showing no change during that period.

What is the median guideline value in Kilay?

The median guideline value in Kilay is Rs 300 per sq.ft, which is the same as the guideline value for Kujalamba Colony.

How is stamp duty calculated for properties in Kujalamba 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 the current rate, the total guideline value would be Rs 3,00,000, resulting in a stamp duty of Rs 21,000.

Where can I find the Sub Registrar Office for Kujalamba Colony?

The Sub Registrar Office for Kujalamba Colony is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information by visiting the provided link.