Guideline Value for Old State Bank Colony Main Road

Old State Bank Colony Main Road guideline value

The current guideline value of Old State Bank Colony Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024. This property is located in Tambaram village, under the Tambaram Joint 1 SRO, classified as Residential Special Type - II.

How the guideline value of Old State Bank Colony Main Road has changed

The guideline value for Old State Bank Colony Main Road has seen significant changes over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 567%. However, the value decreased to Rs 2,680 per sq.ft in the 2017 revision, a drop of 33%. The value then rose sharply to Rs 4,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 4,400 per sq.ft in the 2024 revision, reflecting a 10% increase.

Overall, from 2007 to 2024, the guideline value has increased by 633%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

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, with a median value of Rs 3,300 per sq.ft. The guideline value of Old State Bank Colony Main Road is above this median.

• Old SBI Colony Road 4th Street: Rs 3,300 per sq.ft (2024)
• Old SBI Colony Road 3rd Street: Rs 3,300 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 State Bank Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Old State Bank Colony Main Road?

The Sub Registrar Office that covers Old State Bank Colony Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during property registration in Tambaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers should be aware of the guideline value to ensure they are compliant with local regulations.

Frequently asked questions

What is the current guideline value of Old State Bank Colony Main Road?

The current guideline value of Old State Bank Colony Main Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 633%.

What is the land classification of Old State Bank Colony Main Road?

Old State Bank Colony Main Road is classified as Residential Special Type - II.

Where can I find the registration office for Old State Bank Colony Main Road?

The registration office for Old State Bank Colony Main Road is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in Tambaram?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000.