Guideline Value for Main Road

Main Road guideline value

The current guideline value of Main Road in Kolathur village is Rs 600 per sq.ft, effective from 1 July 2024. This property falls under the Sriperumpudur SRO and is classified as Commercial Class I Type - II.

How the guideline value of Main Road has changed

The guideline value for Main Road has seen several revisions over the years. In 2012, the value was set at Rs 600 per sq.ft, which remained unchanged in the subsequent revision in 2023. However, between 2017 and 2023, there was a significant increase of 49%, with the 2017 value recorded at Rs 402 per sq.ft. The 2024 revision again maintains the value at Rs 600 per sq.ft, marking a 0% change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from 2012 to 2024 shows no increase, as the value has remained consistent at Rs 600 per sq.ft since the 2012 revision.

Guideline values in Kolathur

In Kolathur, there are 45 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,300 per sq.ft, with a median value of Rs 250 per sq.ft. The guideline value for Main Road is above this median, indicating its relative standing among other streets.

• Laskhmi Land: Rs 250 per sq.ft (2024)
• Lakshmi Nagar: Rs 250 per sq.ft (2024)
• M.G.R Main Road: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• Kamaraj Nagar: Rs 300 per sq.ft (2024)
• Palla Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty, charged at 7%, would be Rs 42,000, while the registration fee at 2% totals Rs 12,000. Thus, the combined charges would be Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Main Road?

The Main Road is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for any further inquiries.

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

The guideline value is a critical factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications involved in the transaction. This process helps maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Main Road in Kolathur?

The current guideline value of Main Road in Kolathur is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Main Road has remained at Rs 600 per sq.ft since the 2012 revision, with a significant increase of 49% from Rs 402 per sq.ft in 2017 to 2023.

What is the land classification for Main Road?

Main Road is classified as Commercial Class I Type - II, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for Main Road?

The Sub Registrar Office covering Main Road is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the stamp duty calculated for properties on Main Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft has a total guideline value of Rs 6,00,000, leading to a stamp duty of Rs 42,000.