Guideline Value for North Colony

North Colony guideline value

The current guideline value of North Colony, located in Acharapakkam village under the Acchirapakkam SRO, is Rs 250 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of North Colony has changed

The guideline value for North Colony has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which was Rs 72 per sq.ft. This value increased to Rs 150 per sq.ft in 2012, marking a rise of 108%. However, it then decreased to Rs 100 per sq.ft in 2017, reflecting a decline of 33%. The value saw a significant increase to Rs 250 per sq.ft in the 2023 revision, maintaining the same rate in the 2024 revision, resulting in a 150% increase from the 2017 figure.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 247%.

Guideline values in Acharapakkam

Acharapakkam village features 61 streets under the Acchirapakkam SRO with a 2024 guideline value ranging from Rs 250 to Rs 600 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing North Colony's 2024 figure below that median.

• Om Sakthi Nagar Ward 9: Rs 400 per sq.ft (2024)
• Othavadai Extension Ward 8: Rs 400 per sq.ft (2024)
• Othavadai Street: Rs 400 per sq.ft (2024)
• Nehru Nagar: Rs 400 per sq.ft (2024)
• National Highway Ward 9: Rs 400 per sq.ft (2024)
• National Highway Ward 7: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in North Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, while the registration fee at 2% would be Rs 5,000, bringing the total to Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers North Colony?

The Sub Registrar Office that covers North Colony is the Acchirapakkam Sub Registrar Office, located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical figure used during the registration of property transactions in Acharapakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable stamp duty and registration fees. Buyers should be aware that the duty is charged based on the higher value between the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value of North Colony?

The current guideline value of North Colony is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 72 per sq.ft in 2007 to Rs 250 per sq.ft in 2024, reflecting an overall increase of 247% over the years.

What are the stamp duty rates for property in North Colony?

The stamp duty for property transactions in North Colony is 7% of the guideline value or sale price, whichever is higher.

Where is the Acchirapakkam Sub Registrar Office located?

The Acchirapakkam Sub Registrar Office is located at No.70, Bazzar Street, Acchirapakkam-603301, Chengalpattu registration zone.

What other streets have guideline values in Acharapakkam?

Other streets in Acharapakkam with guideline values include Om Sakthi Nagar Ward 9, Othavadai Extension Ward 8, Othavadai Street, Nehru Nagar, National Highway Ward 9, and National Highway Ward 7, all valued at Rs 400 per sq.ft in 2024.