Guideline Value for R.B.COLONY 1 TO 5 STREETS

R.B.Colony 1 To 5 Streets guideline value

The current guideline value for R.B.Colony 1 To 5 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of R.B.Colony 1 To 5 Streets has changed

In the 2012 revision, the guideline value was set at Rs 3,000 per sq.ft. This figure remained unchanged through the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, marking a 10% rise from the previous year. Notably, there are no recorded figures for the years 2002, 2003, 2007, and 2017 for this street.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2023 to 2024 revision reflects a significant change, with a 10% increase from Rs 3,000 to Rs 3,300 per sq.ft.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which aligns with the current value for R.B.Colony 1 To 5 Streets.

• Rayapettai Odai Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 3rd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 2nd Cross Street: Rs 2,750 per sq.ft (2024)
• Rayapettai Odai 1st Cross Street: Rs 2,750 per sq.ft (2024)
• Ravi Street: Rs 2,160 per sq.ft (2024)
• Renuka Nagar: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in R.B.Colony 1 To 5 Streets

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

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

Which Sub Registrar Office covers R.B.Colony 1 To 5 Streets?

The R.B.Colony 1 To 5 Streets fall under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Zaminpallavaram. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall expenses involved in property registration. This ensures transparency and consistency in property transactions across the region.

Frequently asked questions

What is the current guideline value for R.B.Colony 1 To 5 Streets?

The current guideline value for R.B.Colony 1 To 5 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value remained at Rs 3,000 per sq.ft from 2012 to 2023, before increasing to Rs 3,300 per sq.ft in 2024. Overall, there has been a 10% increase in the guideline value from 2012 to 2024.

Which office handles registrations for properties in this area?

The Pallavaram Sub Registrar Office handles registrations for properties in R.B.Colony 1 To 5 Streets, located at 7th Main Road, New Colony, Chromepet, Chennai.

What is the stamp duty rate applicable in this area?

The stamp duty rate applicable in this area is 7% of the guideline value or the sale price, whichever is higher.

How can I calculate the registration fees for my property?

You can calculate the registration fees by using the guideline value and applying the registration fee rate of 2%. For more details, you can use the stamp duty and registration fee calculator.