Guideline Value for SANJEEVI COLONY

Sanjeevi Colony guideline value

The current guideline value of Sanjeevi Colony, located in Arumbakkam village under the Kodambakkam SRO, is Rs 6,000 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of Sanjeevi Colony has changed

Over the years, the guideline value of Sanjeevi Colony has undergone several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 1,250 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking a substantial rise of 340%. However, it then decreased to Rs 3,685 per sq.ft in 2017, reflecting a decline of 33%. The value saw a notable increase to Rs 5,500 per sq.ft in 2023, followed by the current rate of Rs 6,000 per sq.ft in 2024, which represents a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 380%.

Guideline values in Arumbakkam

In Arumbakkam, there are 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 value is Rs 6,000 per sq.ft, which aligns with the current guideline value of Sanjeevi Colony.

• Sanjeevi Nagar: Rs 6,000 per sq.ft (2024)
• Sanjeevi Street: Rs 6,000 per sq.ft (2024)
• Sathiya Varadharaja Perumal Koil Street: Rs 4,400 per sq.ft (2024)
• S.B.I. Officer Colony III Rd 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. Officer Colony I St Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sanjeevi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making the total cost for these fees Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sanjeevi Colony?

The Sanjeevi Colony area is covered by the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. To find your nearest SRO, you can visit find your SRO.

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

The guideline value is a crucial factor 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 government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, both the buyer and seller should be aware of the current guideline value to avoid any discrepancies during the registration process. This helps in ensuring transparency and compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sanjeevi Colony?

The current guideline value of Sanjeevi Colony 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 1,250 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, reflecting an overall increase of 380% over the years.

What is the land classification for Sanjeevi Colony?

Sanjeevi Colony is classified as Residential Special Type - II.

Where can I find the registration office for Sanjeevi Colony?

The registration office for Sanjeevi Colony is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated in Sanjeevi Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. 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%.