Guideline Value for S.R.V.S. Colony

S.R.V.S. Colony guideline value

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

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

Over the years, the guideline value of S.R.V.S. Colony has seen significant changes. The earliest recorded figure in 2003 was Rs 245 per sq.ft. This increased to Rs 900 per sq.ft in 2007, marking a substantial rise of 267%. In 2012, the value rose again to Rs 3,000 per sq.ft, an increase of 233%. However, this figure dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33%. The guideline value then climbed to Rs 3,000 per sq.ft in 2023, followed by a further increase to the current rate of Rs 3,300 per sq.ft in 2024, which is a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1,247%. The register has no figure for the year 2002 for this street.

Guideline values in Kilkattalai

Kilkattalai village has a total of 194 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing S.R.V.S. Colony's 2024 figure above this median.

• S.R.V.S. Colony Extn: 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

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, bringing the total fees to 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 also use our stamp duty and registration fee calculator for more information.

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

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

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

The guideline value is a crucial factor in the registration process of property transactions in Kilkattalai. It serves as a benchmark for determining the minimum value at which a property can be sold or bought, ensuring that the transaction is recorded accurately and fairly.

When you register a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This means that understanding the guideline value is essential for both buyers and sellers in the area.

Frequently asked questions

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

The current guideline value of S.R.V.S. Colony 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 245 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1,247%.

What is the land classification for S.R.V.S. Colony?

S.R.V.S. Colony is classified as Mixed Type - II land, which indicates a blend of residential and commercial properties.

Where can I find the Sub Registrar Office for S.R.V.S. Colony?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000.