Guideline Value for Park Circle Colony

Park Circle Colony guideline value

The current guideline value of Park Circle Colony is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this street is Residential Class IV Type - III.

How the guideline value of Park Circle Colony has changed

The guideline value for Park Circle Colony has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 800 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a 213% rise. However, in the 2017 revision, the value dropped to Rs 1,675 per sq.ft, a decrease of 33%. The most recent revision in 2024 has set the guideline value at Rs 2,700 per sq.ft, reflecting a 61% increase from the 2017 figure.

It is important to note that 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 238%.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for the area is Rs 4,900 per sq.ft, placing Park Circle Colony's 2024 figure below this median.

• Parri Nagar, Cheran Street: Rs 5,500 per sq.ft (2024)
• Parri Street: Rs 3,300 per sq.ft (2024)
• Panneer Selvam Road R.S.No.55 (Part): Rs 7,000 per sq.ft (2024)
• Pannaia Maesthri Street Block 76: Rs 3,300 per sq.ft (2024)
• Pandara Street (Pookarar Street): Rs 5,500 per sq.ft (2024)
• Pammal Nallathambi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Park Circle Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. 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 detailed calculations.

Which Sub Registrar Office covers Park Circle Colony?

The Sub Registrar Office that covers Park Circle Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur EB Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kodambakkam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal documentation.

Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction, as it is the basis for calculating the fees involved. It is advisable to check the latest guideline values to ensure compliance with the registration requirements.

Frequently asked questions

What is the current guideline value of Park Circle Colony?

The current guideline value of Park Circle Colony is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over the years.

What is the land classification for Park Circle Colony?

Park Circle Colony is classified as Residential Class IV Type - III.

Where can I find the Sub Registrar Office for Park Circle Colony?

The Sub Registrar Office for Park Circle Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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, a 1,000 sq.ft plot at the current rate would incur a total fee of Rs 2,43,000.