Guideline Value for SBI COLONY

Sbi Colony guideline value

The current guideline value of Sbi Colony in Azhakoor village is Rs 350 per sq.ft, effective from the 2024 revision. This area falls under the Sriperumpudur SRO and is classified as Residential Special Type - III.

How the guideline value of Sbi Colony has changed

Since the 2012 revision, the guideline value for Sbi Colony has seen various changes. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged until the 2023 revision, where it was also Rs 350 per sq.ft. The 2017 revision had a lower figure of Rs 234 per sq.ft, marking a decrease of 33% from 2012 to 2017. The most recent revision in 2024 has kept the value constant at Rs 350 per sq.ft, showing no change from the previous year.

In summary, from 2017 to 2023, there was a significant increase of 50%, but overall from 2012 to 2024, the guideline value has remained the same. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Azhakoor

Azhakoor village has 18 streets under the Sriperumpudur SRO with the 2024 guideline values ranging from Rs 100 to Rs 350 per sq.ft. The median value for these streets is Rs 225 per sq.ft, placing Sbi Colony's 2024 figure above this median.

• Rathinapuram: Rs 300 per sq.ft (2024)
• Sri Azhagar Nagar: Rs 300 per sq.ft (2024)
• Sri Jai Vignesh Nagar: Rs 300 per sq.ft (2024)
• Srimathi Sankar Nagar: Rs 200 per sq.ft (2024)
• Sriradi Sai Nagar: Rs 300 per sq.ft (2024)
• Sri Selva Vingnesh Nagar: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sbi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, bringing the total to Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sbi Colony?

The Sub Registrar Office that covers Sbi Colony is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Azhakoor, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is the minimum value set by the government for property transactions, and it serves as a benchmark for calculating these fees.

During the registration process, the buyer must pay the stamp duty based on the higher amount between the guideline value and the actual sale price. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Sbi Colony?

The current guideline value of Sbi Colony is Rs 350 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2012 to 2024, with a notable decrease to Rs 234 per sq.ft in 2017. There was a 50% increase from 2017 to 2023, but no change from 2023 to 2024.

What is the land classification of Sbi Colony?

Sbi Colony is classified as Residential Special Type - III, indicating its designated use for residential purposes.

What are the other streets in Azhakoor and their guideline values?

Other streets in Azhakoor include Rathinapuram, Sri Azhagar Nagar, Sri Jai Vignesh Nagar, Srimathi Sankar Nagar, Sriradi Sai Nagar, and Sri Selva Vingnesh Nagar, with guideline values ranging from Rs 200 to Rs 300 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Sbi Colony?

The Sub Registrar Office for Sbi Colony is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find more information online.