Guideline Value for S.B.I. STAFF COLONY III RD STREET

S.B.I. Staff Colony III Rd Street guideline value

The current guideline value of S.B.I. Staff Colony III Rd Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village under the Kodambakkam SRO, with a land classification of Residential Special Type - II.

How the guideline value of S.B.I. Staff Colony III Rd Street has changed

The guideline value for S.B.I. Staff Colony III Rd Street has undergone several revisions over the years. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 5,500 per sq.ft in the 2012 revision. However, the value then decreased to Rs 3,685 per sq.ft in 2017. The 2023 revision raised the guideline value to Rs 5,500 per sq.ft, and the latest revision in 2024 has set it at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 344%. Notably, there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Arumbakkam

In Arumbakkam, there are a total of 391 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,000 per sq.ft, which is the same as the 2024 figure for S.B.I. Staff Colony III Rd Street.

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

Stamp duty and registration fee for property in S.B.I. Staff Colony III Rd 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, bringing the total to Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.B.I. Staff Colony III Rd Street?

The S.B.I. Staff Colony III Rd Street falls under the jurisdiction of 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 plays a crucial role in property transactions in Arumbakkam. It is used as a benchmark for calculating stamp duty and registration fees during the sale or purchase of property. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal and financial obligations.

When registering a property, the guideline value is referred to determine the applicable fees. It is essential for both parties in a transaction to understand how the guideline value affects the overall cost of buying or selling property in the area.

Frequently asked questions

What is the current guideline value for S.B.I. Staff Colony III Rd Street?

The current guideline value for S.B.I. Staff Colony III Rd 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 seen several changes, with the most recent being an increase from Rs 5,500 per sq.ft in 2023 to Rs 6,000 per sq.ft in 2024. Overall, from 2007 to 2024, the increase is 344%.

What is the land classification for S.B.I. Staff Colony III Rd Street?

The land classification for S.B.I. Staff Colony III Rd Street is Residential Special Type - II.

Where can I find the registration office for this street?

The registration office covering S.B.I. Staff Colony III Rd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in this area?

Stamp duty for properties in S.B.I. Staff Colony III Rd Street is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a total of Rs 5,40,000 in fees.