Guideline Value for S.A. Colony

S.A. Colony guideline value

The current guideline value of S.A. Colony, located in Kodungaiyur village under the Madhavaram SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of S.A. Colony has changed

The guideline value of S.A. Colony has seen several revisions over the years. In 2012, the guideline value was Rs 2,000 per sq.ft, which decreased 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 64% increase from 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no figures available for the revisions in 2023, 2007, 2003, and 2002 for this street. The 2012 to 2017 period saw a decrease of 33% in the guideline value, reflecting fluctuations in property valuation over time.

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 for these streets is Rs 2,700 per sq.ft, making S.A. Colony's current guideline value of Rs 2,200 per sq.ft below the median.

• S.A. Colony 1st Street: 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

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, making the total cost for these fees Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers S.A. Colony?

The Sub Registrar Office that covers S.A. Colony is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, 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 property transactions in Kodungaiyur. It is used as a reference point for determining the stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of S.A. Colony 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, reflecting a 64% increase from 2017.

What is the land classification of S.A. Colony?

S.A. Colony is classified as Residential Class II Type - I, which indicates its intended use for residential purposes.

What are the stamp duty and registration fees for a property in S.A. Colony?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for S.A. Colony located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060, which covers S.A. Colony for registration purposes.