Guideline Value for Reserve Bank Colony 4th Street

Reserve Bank Colony 4th Street guideline value

The current guideline value for Reserve Bank Colony 4th Street is Rs 3,240 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class II Type - II.

How the guideline value of Reserve Bank Colony 4th Street has changed

The guideline value for Reserve Bank Colony 4th Street has seen several revisions over the years. The earliest recorded value is from 2003, which was Rs 556 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 80%. The value then surged to Rs 3,000 per sq.ft in 2012, a remarkable increase of 200%. However, it dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. By 2023, the value rose again to Rs 3,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 3,240 per sq.ft, an increase of 8% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 483%. It is important to note that there is no recorded figure for the year 2002 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Reserve Bank Colony 4th Street's 2024 figure below this median.

• Reserve Bank Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Reserve Bank Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Reserve Bank Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Renuka Nagar: Rs 3,300 per sq.ft (2024)
• R.B.Colony 1 To 5 Streets: Rs 3,300 per sq.ft (2024)
• R.K.V. Avenue: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Reserve Bank Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,240 per sq.ft, the total guideline value would be Rs 32,40,000. The stamp duty at 7% would amount to Rs 2,26,800, and the registration fee at 2% would be Rs 64,800, totaling Rs 2,91,600. 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 Reserve Bank Colony 4th Street?

The Sub Registrar Office that covers Reserve Bank Colony 4th Street is 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 details.

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

The guideline value is a crucial factor in the registration process for property transactions in Zaminpallavaram. It serves as the basis for calculating stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. Buyers and sellers should be aware of the current guideline values to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Reserve Bank Colony 4th Street?

The current guideline value of Reserve Bank Colony 4th Street is Rs 3,240 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 556 per sq.ft in 2003 to Rs 3,240 per sq.ft in 2024, marking an overall increase of 483% over this period.

What is the median guideline value in Zaminpallavaram?

The median guideline value for streets in Zaminpallavaram is Rs 3,300 per sq.ft as of 2024, which is higher than the value for Reserve Bank Colony 4th Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 32,40,000, the stamp duty would be Rs 2,26,800 and the registration fee would be Rs 64,800, totaling Rs 2,91,600.

Where is the Sub Registrar Office for Reserve Bank Colony 4th Street located?

The Sub Registrar Office for Reserve Bank Colony 4th Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.