Guideline Value for S.B.I. OFFICER COLONY II ND STREET

S.B.I. Officer Colony II Nd Street guideline value

The current guideline value of S.B.I. Officer Colony II Nd Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, and it is classified as Residential Special Type - II.

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

The guideline value for S.B.I. Officer Colony II Nd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,500 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in the 2012 revision. However, there was a decrease to Rs 3,685 per sq.ft in the 2017 revision. The value then rose to Rs 5,500 per sq.ft in 2023, before reaching the current rate of Rs 6,000 per sq.ft in the 2024 revision. The register has no figures for the years 2002 and 2003.

From 2007 to 2012, the value increased by 267%, but then it decreased by 33% from 2012 to 2017. The value saw a significant increase of 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value is Rs 6,000 per sq.ft, which matches the guideline value of S.B.I. Officer Colony II Nd Street.

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

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

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

The S.B.I. Officer Colony II Nd 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 details.

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

The guideline value is a crucial factor in the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of S.B.I. Officer Colony II Nd Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What are the other streets with the same guideline value in Arumbakkam?

Other streets in Arumbakkam with the same guideline value of Rs 6,000 per sq.ft include S.B.I. Officer Colony III Rd Street, S.B.I. Officer Colony I St Street, S.B.I. Staff Colony III Rd Street, S.B.I. Staff Colony II Nd Street, S.B.I. Staff Colony I St Street, and S.B.I. Staff Colony IV Th Street.

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.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 60,00,000 would incur a stamp duty of Rs 4,20,000 at a rate of 7%.