Guideline Value for ROAD STREET

Road Street guideline value

The current guideline value of Road Street in Kolathur village is Rs 104 per sq.ft, effective from 1 July 2024. This street falls under the Pallipattu SRO and is classified as Residential Class I Type - I.

How the guideline value of Road Street has changed

The guideline value for Road Street has undergone several revisions over the years. The earliest recorded value was Rs 25 per sq.ft in 2007, which increased significantly to Rs 80 per sq.ft in 2012. However, this value decreased to Rs 54 per sq.ft in 2017. The subsequent revision in 2023 marked an increase to Rs 100 per sq.ft, and the latest revision in 2024 has set the value at Rs 104 per sq.ft, reflecting a 4% increase from the previous year.

It is important to note that there are no figures available for Road Street in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 316%.

Guideline values in Kolathur

In Kolathur, there are 18 streets under the Pallipattu SRO that carry a 2024 guideline value ranging from Rs 104 to Rs 150 per sq.ft, with the median value being Rs 104 per sq.ft. Road Street's 2024 figure aligns with this median.

• Saliyar Street: Rs 104 per sq.ft (2024)
• Raja Street: Rs 104 per sq.ft (2024)
• Sorakayapet (Thoppu Street): Rs 104 per sq.ft (2024)
• S.P Balu Gardens: Rs 150 per sq.ft (2024)
• Ootha Vadai Street: Rs 104 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 104 per sq.ft (2024)

Stamp duty and registration fee for property in Road Street

For a 1,000 sq.ft plot at the current guideline value of Rs 104 per sq.ft, the total guideline value amounts to Rs 1,04,000. The stamp duty at 7% would be Rs 7,280, and the registration fee at 2% would be Rs 2,080, making the total cost for these fees Rs 9,360. It is essential 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 further calculations.

Which Sub Registrar Office covers Road Street?

The Sub Registrar Office that covers Road Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Road Street?

The current guideline value of Road Street is Rs 104 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 25 per sq.ft in 2007 to Rs 104 per sq.ft in 2024, marking an overall increase of 316% over the years.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with a guideline value of Rs 104 per sq.ft in 2024 include Saliyar Street, Raja Street, Sorakayapet (Thoppu Street), Ootha Vadai Street, and Sri Venkateswara Nagar.

What fees are associated with buying property in Road Street?

When buying property in Road Street, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Road Street?

The Sub Registrar Office for Road Street is the Pallipattu Sub Registrar Office, located at Nagiri Road, Surajapettai, Pallipattu Taluk, Thiruvallur District-631 207, Chennai registration zone.