Guideline Value for Old SBI Colony Road 4th Street

Old SBI Colony Road 4th Street guideline value

The current guideline value of Old SBI Colony Road 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Tambaram village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Old SBI Colony Road 4th Street has changed

The guideline value for Old SBI Colony Road 4th Street has seen several revisions over the years. In 2012, the guideline value was Rs 3,000 per sq.ft. This figure remained unchanged until the 2017 revision, which decreased to Rs 2,010 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, showing a 10% increase 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. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Old SBI Colony Road 4th Street.

• Old SBI Colony Road 3rd Street: Rs 3,300 per sq.ft (2024)
• Old State Bank Colony Main Road: Rs 4,400 per sq.ft (2024)
• Old SBI Colony Road 2nd Street: Rs 3,300 per sq.ft (2024)
• Old SBI Colony Road 1st Street: Rs 3,300 per sq.ft (2024)
• Oil Mill Street: Rs 3,300 per sq.ft (2024)
• Nithyanantham Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Old SBI Colony Road 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Old SBI Colony Road 4th Street?

The Sub Registrar Office that covers Old SBI Colony Road 4th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during property transactions in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, making the process transparent and standardized.

Frequently asked questions

What is the current guideline value of Old SBI Colony Road 4th Street?

The current guideline value of Old SBI Colony Road 4th Street 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 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Old SBI Colony Road 4th Street?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Old SBI Colony Road 4th Street, located at No.26, MES Road, East Tambaram, Chennai-600059.

What is the significance of the guideline value in property transactions?

The guideline value serves as a benchmark for the minimum registration value of a property, impacting the calculation of stamp duty and registration fees during transactions.