Guideline Value for Loyola College Hostel

Loyola College Hostel guideline value

The current guideline value of Loyola College Hostel is Rs 10,400 per sq.ft, effective from 1 July 2024. This property is located in Nungambakkam village under the Chennai Central Joint II SRO and is classified as Commercial Class I Type - I.

How the guideline value of Loyola College Hostel has changed

The guideline value for Loyola College Hostel has seen several revisions over the years. The 2007 revision set the value at Rs 4,700 per sq.ft, which increased significantly to Rs 9,500 per sq.ft in the 2012 revision. However, this figure dropped to Rs 6,365 per sq.ft in 2017. Following this, the value rose to Rs 9,500 per sq.ft in 2023 and has now reached Rs 10,400 per sq.ft in the 2024 revision.

Notable changes between these revisions include a 102% increase from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 121%.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for Loyola College Hostel is above this median.

• Loyola College Compound Rd: Rs 11,500 per sq.ft (2024)
• Madhavan Nair 1st Cross Street: Rs 8,800 per sq.ft (2024)
• Madhavan Nair Road: Rs 11,500 per sq.ft (2024)
• Mahalingam Chetty Road: Rs 10,400 per sq.ft (2024)
• Mahalingam Chetty Street: Rs 10,400 per sq.ft (2024)
• Mahalingam Colony Layout: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Loyola College Hostel

For a 1,000 sq.ft plot at the current rate of Rs 10,400 per sq.ft, the guideline value amounts to Rs 1,04,00,000. The stamp duty at 7% would be Rs 7,28,000, and the registration fee at 2% would be Rs 2,08,000, totaling Rs 9,36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Loyola College Hostel?

The Loyola College Hostel falls under the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable duties and fees. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Loyola College Hostel?

The current guideline value of Loyola College Hostel is Rs 10,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,700 per sq.ft in 2007 to Rs 10,400 per sq.ft in 2024, reflecting an overall increase of 121% over this period.

What is the land classification of Loyola College Hostel?

Loyola College Hostel is classified as Commercial Class I Type - I under the Chennai Central Joint II SRO.

What is the registration office for Loyola College Hostel?

The registration office covering Loyola College Hostel is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is stamp duty calculated for properties in Loyola College Hostel?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 1,04,00,000 would incur a stamp duty of Rs 7,28,000 at 7%.