Guideline Value for S.R.V.S. COLONY EXTN

S.R.V.S. Colony Extn guideline value

The current guideline value for S.R.V.S. Colony Extn is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of S.R.V.S. Colony Extn has changed

Over the years, the guideline value for S.R.V.S. Colony Extn has seen several revisions. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as per the 2024 revision.

From the 2017 to 2023 revision, there was a notable increase of 49%. The 2023 to 2024 revision reflects a 10% increase. Overall, from the 2012 to 2024 revisions, 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 Kilkattalai

In Kilkattalai, there are 194 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,530 per sq.ft, making the current value of S.R.V.S. Colony Extn above that median.

• S.R.V.S. Colony: Rs 3,300 per sq.ft (2024)
• Subramaniya Nagar: Rs 2,530 per sq.ft (2024)
• Sudukadu Street: Rs 2,530 per sq.ft (2024)
• Suguna Colony: Rs 2,200 per sq.ft (2024)
• Thenmozhi Nagar: Rs 2,530 per sq.ft (2024)
• Thenmozhi Nagar 1 To 5 Streets: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.V.S. Colony Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers S.R.V.S. Colony Extn?

The S.R.V.S. Colony Extn is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Kilkattalai, the guideline value plays a crucial role in determining the applicable stamp duty and registration fees. This value is set by the government and is used as a benchmark for property transactions.

During the registration process, the guideline value is compared with the sale price of the property. The higher of the two values is taken into account for calculating the stamp duty and registration fees, ensuring that the appropriate charges are applied based on the property's worth.

Frequently asked questions

What is the current guideline value of S.R.V.S. Colony Extn?

The current guideline value of S.R.V.S. Colony Extn is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then rising to Rs 3,000 per sq.ft in 2023, and currently standing at Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for property in S.R.V.S. Colony Extn?

For a property valued at Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers S.R.V.S. Colony Extn?

The Pallavaram Sub Registrar Office covers S.R.V.S. Colony Extn, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value or the sale price is considered for calculating these fees.