Guideline Value for Mohammed Hussain Colony

Mohammed Hussain Colony guideline value

The current guideline value of Mohammed Hussain Colony is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Mohammed Hussain Colony has changed

The guideline value for Mohammed Hussain Colony has seen several revisions over the years. The earliest recorded figure is from 2007, where the guideline value was Rs 700 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in 2012, marking an increase of 329%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a drop of 33%. The most recent revision in 2024 sets the guideline value at Rs 3,300 per sq.ft, which is a 64% increase from the 2017 figure.

There are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 371%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Mohammed Hussain Colony.

• Mohammedian Street: Rs 3,300 per sq.ft (2024)
• M.G.R. Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 3rd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 2nd Street: Rs 2,700 per sq.ft (2024)
• M.G.R. Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Murugan Nagar 10th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Mohammed Hussain Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Mohammed Hussain Colony?

The Sub Registrar Office that covers Mohammed Hussain Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Kolathur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately by the authorities.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall cost of the transaction. The guideline value is periodically revised to reflect changes in the real estate market and is an important factor in property dealings.

Frequently asked questions

What is the current guideline value of Mohammed Hussain Colony?

The current guideline value of Mohammed Hussain Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, an overall increase of 371%. There were fluctuations, including a decrease to Rs 2,010 per sq.ft in 2017.

Where can I find the registration office for Mohammed Hussain Colony?

The registration office for Mohammed Hussain Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Kolathur?

The median guideline value for streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the current guideline value for Mohammed Hussain Colony.

How is stamp duty calculated for property transactions?

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 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.