Guideline Value for S I P Colony 1st Street

S I P Colony 1st Street guideline value

The current guideline value of S I P Colony 1st Street in Thalakanancherry village is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of S I P Colony 1st Street has changed

The guideline value for S I P Colony 1st Street has seen several revisions over the years. The earliest recorded value is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The subsequent revision in 2023 raised the value back to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

From 2012 to 2017, there was a decline of 33%, but the value increased significantly by 49% from 2017 to 2023. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, placing S I P Colony 1st Street's 2024 figure above that median.

• S I P Colony: Rs 4,400 per sq.ft (2024)
• S I P Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• S I P Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• S I P Colony Extension: Rs 4,400 per sq.ft (2024)
• South Bakthavachalam Nagar 5th Cross Street: Rs 3,900 per sq.ft (2024)
• Sri Lakshmi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in S I P Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. 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 S I P Colony 1st Street?

The Sub Registrar Office that covers S I P Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price as per government standards.

When you register a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures transparency and helps prevent undervaluation of properties during sales.

Frequently asked questions

What is the current guideline value of S I P Colony 1st Street?

The current guideline value of S I P Colony 1st Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the land classification for S I P Colony 1st Street?

S I P Colony 1st Street is classified as Residential Class I Type - II.

Where can I find the registration office for S I P Colony 1st Street?

The registration office for S I P Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for properties in S I P Colony 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 44,00,000, the stamp duty would be calculated at 7% of that amount.