Guideline Value for POSTAL COLONY

Postal Colony guideline value

The current guideline value of Postal Colony in Kolapakkam village is Rs 1,500 per sq.ft, as per the 2023 revision. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Postal Colony has changed

The guideline value of Postal Colony has seen several revisions over the years. In the 2007 revision, the value was Rs 440 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision. However, it then decreased to Rs 1,005 per sq.ft in the 2017 revision. The most recent revision in 2023 saw the guideline value rise to Rs 1,500 per sq.ft again, marking a 49% increase from the previous revision.

Overall, from the 2007 revision to the 2023 revision, the guideline value has increased by 241%. The register does not have figures for the years 2002, 2003, and 2024 for this street.

Guideline values in Kolapakkam

While specific village figures are not provided, Postal Colony is part of Kolapakkam, which is under the jurisdiction of the Gooduvancheri SRO. The other streets in Kolapakkam are not specified in the available data.

Stamp duty and registration fee for property in Postal Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Postal Colony?

The Gooduvancheri Sub Registrar Office covers Postal Colony. The address is Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Postal Colony?

The current guideline value of Postal Colony is Rs 1,500 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 440 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012, then decreased to Rs 1,005 per sq.ft in 2017, and finally returned to Rs 1,500 per sq.ft in 2023.

What land classification does Postal Colony fall under?

Postal Colony is classified as Residential Special Type - II according to the current guidelines.

What is the registration office for Postal Colony?

The registration office for Postal Colony is the Gooduvancheri Sub Registrar Office located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,35,000.