Guideline Value for S.B.I. STAFF COLONY VI TH STREET

S.B.I. Staff Colony VI Th Street guideline value

The current guideline value for S.B.I. Staff Colony VI Th 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 the land classification is Residential Special Type - II.

How the guideline value of S.B.I. Staff Colony VI Th Street has changed

The guideline value for S.B.I. Staff Colony VI Th Street has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 1,350 per sq.ft, which then increased significantly to Rs 5,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 3,685 per sq.ft in 2017. 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 2024, marking a 9% increase from the previous year.

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

Guideline values in Arumbakkam

In Arumbakkam, there are a total of 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 guideline value is Rs 6,000 per sq.ft, which is equal to the current guideline value of S.B.I. Staff Colony VI Th Street.

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

Stamp duty and registration fee for property in S.B.I. Staff Colony VI Th 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, while 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 also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers S.B.I. Staff Colony VI Th Street?

The S.B.I. Staff Colony VI Th Street falls under the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is conducted at a fair price.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of S.B.I. Staff Colony VI Th Street?

The current guideline value of S.B.I. Staff Colony VI Th 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 1,350 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 344% over this period.

What is the land classification for S.B.I. Staff Colony VI Th Street?

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

Where can I find the Sub Registrar Office for S.B.I. Staff Colony VI Th Street?

The Sub Registrar Office covering S.B.I. Staff Colony VI Th 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 S.B.I. Staff Colony VI Th Street?

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