Guideline Value for S.A. Colony 1st Street

S.A. Colony 1st Street guideline value

The current guideline value of S.A. Colony 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of S.A. Colony 1st Street has changed

The guideline value for S.A. Colony 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. In 2023, the guideline value increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value rose significantly by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of 2024. The median guideline value in this area is Rs 2,700 per sq.ft, which means that S.A. Colony 1st Street's 2024 figure is below the median.

• S.A. Colony: Rs 2,200 per sq.ft (2024)
• S.A. Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• R.V. Nagar Lane: Rs 1,900 per sq.ft (2024)
• Sagaya Nagar: Rs 2,200 per sq.ft (2024)
• R.V. Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• R.V. Nagar 7th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in S.A. Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. 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.A. Colony 1st Street?

The S.A. Colony 1st Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it directly influences the costs associated with registration. Buyers should ensure that the sale price is at least equal to or greater than the guideline value to avoid any issues during the registration process.

Frequently asked questions

What is the current guideline value of S.A. Colony 1st Street?

The current guideline value of S.A. Colony 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for S.A. Colony 1st Street?

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

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in S.A. Colony 1st Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,200 per sq.ft would incur a stamp duty of Rs 1,54,000.