Guideline Value for S.A. Colony 2nd Street

S.A. Colony 2nd Street guideline value

The current guideline value of S.A. Colony 2nd 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 2nd Street has changed

The guideline value for S.A. Colony 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. However, the latest revision in 2024 has increased the guideline value to Rs 2,200 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

It is important to note that there are no figures available for the revisions in the years 2023, 2007, 2003, and 2002 for this street. The fluctuations in the guideline value reflect the changes in the real estate landscape over time.

Guideline values in Kodungaiyur

Kodungaiyur village has a total of 1318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft as of the 2024 revision. The median guideline value in this area is Rs 2,700 per sq.ft, which means that the guideline value of S.A. Colony 2nd Street is below this median.

• S.A. Colony 1st Street: Rs 2,200 per sq.ft (2024)
• S.A. Colony: Rs 2,200 per sq.ft (2024)
• Sagaya Nagar: Rs 2,200 per sq.ft (2024)
• R.V. Nagar Lane: Rs 1,900 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 2nd 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, charged at 7%, would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for stamp duty and registration would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.A. Colony 2nd Street?

The S.A. Colony 2nd Street is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of S.A. Colony 2nd Street?

The current guideline value of S.A. Colony 2nd 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, and then increased to Rs 2,200 per sq.ft in 2024.

What is the land classification for S.A. Colony 2nd Street?

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

Where can I find the Madhavaram Sub Registrar Office?

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

How is stamp duty calculated for property in S.A. Colony 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000.