Guideline Value for S I P Colony 2nd Street

S I P Colony 2nd Street guideline value

The current guideline value of S I P Colony 2nd Street in Thalakanancherry village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of S I P Colony 2nd Street has changed

Over the years, the guideline value of S I P Colony 2nd Street has seen several revisions. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. However, this figure increased significantly to Rs 4,000 per sq.ft in the 2023 revision, marking a 49% increase from the 2017 value. The current 2024 revision has further increased the guideline value to Rs 4,400 per sq.ft, reflecting a 10% rise from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

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 2nd Street's 2024 figure above that median.

• S I P Colony 1st 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: 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty is calculated at 7%, resulting in Rs 3,08,000, while the registration fee at 2% amounts to Rs 88,000. Together, the total cost for stamp duty and registration fee would be 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 2nd Street?

The S I P Colony 2nd Street falls under the jurisdiction of the Alandur Sub Registrar Office located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more details, you can find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government collects the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of S I P Colony 2nd Street?

The current guideline value of S I P Colony 2nd 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 increased 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 2nd Street?

S I P Colony 2nd Street is classified as Residential Class I Type - II.

What is the stamp duty for property in S I P Colony 2nd Street?

The stamp duty for property in S I P Colony 2nd Street is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.