Guideline Value for Kuturavu Colony

Kuturavu Colony guideline value

The current guideline value of Kuturavu Colony is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is part of Pozhichalur village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Kuturavu Colony has changed

The guideline value for Kuturavu Colony has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which set the value at Rs 670 per sq.ft. This was followed by a significant increase to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The current revision in 2024 has further increased the value to Rs 1,100 per sq.ft, reflecting a 10% change from the previous year. Overall, the guideline value has increased by 64% from 2017 to 2024.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Pozhichalur

In Pozhichalur, there are 299 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 4,500 per sq.ft, with a median value of Rs 1,320 per sq.ft. The guideline value for Kuturavu Colony is below this median.

• Kurunji Street: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,320 per sq.ft (2024)
• Lakshmi Nagar Main Road: Rs 1,320 per sq.ft (2024)
• Kulothungan Street: Rs 1,100 per sq.ft (2024)
• Lingam Nagar: Rs 1,320 per sq.ft (2024)
• Krishandas Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kuturavu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kuturavu Colony?

The Sub Registrar Office covering Kuturavu Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to consider the guideline value as it impacts the overall costs involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect their financial planning.

Frequently asked questions

What is the current guideline value of Kuturavu Colony?

The current guideline value of Kuturavu Colony is Rs 1,100 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 670 per sq.ft to Rs 1,100 per sq.ft in 2024, which is an overall increase of 64%.

What is the registration fee for property in Kuturavu Colony?

The registration fee for property in Kuturavu Colony is 2% of the guideline value. For a property valued at Rs 11,00,000, the registration fee would be Rs 22,000.

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

The Sub Registrar Office for Kuturavu Colony is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the stamp duty calculated for property transactions?

The stamp duty is charged at 7% on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.