Guideline Value for S.B.I. OFFICER COLONY I ST STREET

S.B.I. Officer Colony I St Street guideline value

The current guideline value for S.B.I. Officer Colony I St Street is Rs 6,000 per sq.ft. This street is located in Arumbakkam village under the Kodambakkam SRO, classified as Residential Special Type - II.

How the guideline value of S.B.I. Officer Colony I St Street has changed

The guideline value for S.B.I. Officer Colony I St Street has seen several revisions over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in 2012. However, it then decreased to Rs 3,685 per sq.ft in 2017. The 2023 revision marked a return to Rs 5,500 per sq.ft, and the latest revision in 2024 set the value at Rs 6,000 per sq.ft.

From 2007 to 2012, there was a remarkable increase of 267%. The value then decreased by 33% from 2012 to 2017. The value rebounded by 49% from 2017 to 2023. The overall change from 2007 to 2024 shows a significant increase of 300% in the guideline value for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which is equal to the 2024 figure for S.B.I. Officer Colony I St Street.

• S.B.I. Officer Colony II Nd Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Officer Colony III Rd Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Staff Colony III Rd Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Staff Colony II Nd Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Staff Colony I St Street: Rs 6,000 per sq.ft (2024)
• S.B.I. Staff Colony IV Th Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in S.B.I. Officer Colony I St Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.B.I. Officer Colony I St Street?

The S.B.I. Officer Colony I St Street falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

Buyers and sellers should be aware that the guideline value can vary significantly between different streets and areas. It is advisable to check the current guideline value before making any transactions to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for S.B.I. Officer Colony I St Street?

The current guideline value for S.B.I. Officer Colony I St Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How often does the guideline value change?

The guideline value is revised periodically, with the most recent revisions occurring in 2024, 2023, 2017, 2012, and 2007. There are no figures for the years 2002 and 2003 for this street.

What was the guideline value in 2017?

The guideline value for S.B.I. Officer Colony I St Street in 2017 was Rs 3,685 per sq.ft.

How is stamp duty calculated for properties in S.B.I. Officer Colony I St Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 4,20,000.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can also find more information online.