Guideline Value for MIDDLE COLONY

Middle Colony guideline value

The current guideline value of Middle Colony is Rs 550 per sq.ft, as per the 2023 revision. This area is located in Kovalam village and falls under the Thiruporur SRO. The land classification for Middle Colony is Residential Class III Type - I.

How the guideline value of Middle Colony has changed

Over the years, the guideline value of Middle Colony has seen several revisions. The earliest recorded value was Rs 165 per sq.ft in 2007. This figure increased significantly to Rs 550 per sq.ft in 2012, marking a rise of 233%. However, in the following revision in 2017, the guideline value dropped to Rs 368 per sq.ft, a decrease of 33%. The most recent revision in 2023 brought the value back up to Rs 550 per sq.ft, reflecting a 49% increase from the 2017 figure.

Overall, from 2007 to 2023, the guideline value has increased by 233%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Kovalam

Currently, there are no specific village figures available for Kovalam. Middle Colony is part of the Thiruporur SRO, which does not have any other streets listed at this time.

Stamp duty and registration fee for property in Middle Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, the total cost for stamp duty and registration fee would be Rs 49,500. It is essential 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 Middle Colony?

The Sub Registrar Office that covers Middle Colony is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovalam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Middle Colony?

The current guideline value of Middle Colony is Rs 550 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 165 per sq.ft in 2007 to Rs 550 per sq.ft in 2012, then decreased to Rs 368 per sq.ft in 2017, and finally returned to Rs 550 per sq.ft in 2023.

What is the land classification for Middle Colony?

The land classification for Middle Colony is Residential Class III Type - I, indicating its suitability for residential development.

Where is the Thiruporur Sub Registrar Office located?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is stamp duty calculated in Middle Colony?

Stamp duty in Middle Colony 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 guideline value, the total stamp duty would be Rs 38,500 at a rate of 7%.