Guideline Value for S.B.I.Colony Third Street

S.B.I.Colony Third Street guideline value

The current guideline value of S.B.I.Colony Third Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it is classified as Residential Class II Type - I.

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

The guideline value for S.B.I.Colony Third Street has seen several revisions over the years. The 2012 revision listed the value at Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 3,500 per sq.ft in the 2023 revision, and then further increased to the current rate of Rs 3,850 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. However, the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of S.B.I.Colony Third Street.

• S.B.I.Colony Second Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony Main Street: Rs 3,850 per sq.ft (2024)
• S.B.I.Colony First Street: Rs 3,850 per sq.ft (2024)
• Sastha Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Sastha Nagar 1st Street: Rs 3,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost Rs 3,46,500. It is important to note that 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.Colony Third Street?

The S.B.I.Colony Third Street falls under the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

When buying or selling property in Valasaravakkam, the guideline value is a crucial factor during the registration process. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the actual sale price of the property.

It is essential for buyers and sellers to be aware of the current guideline values, as these figures can significantly impact the overall costs involved in property transactions. Understanding the guideline value helps ensure that all financial obligations are met during the registration process.

Frequently asked questions

What is the current guideline value of S.B.I.Colony Third Street?

The current guideline value of S.B.I.Colony Third Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,850 per sq.ft in 2024.

What is the land classification for S.B.I.Colony Third Street?

S.B.I.Colony Third Street is classified as Residential Class II Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for S.B.I.Colony Third Street?

The registration office for S.B.I.Colony Third Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in S.B.I.Colony Third Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,69,500.