Guideline Value for SBI Officers colony

SBI Officers colony guideline value

The current guideline value of SBI Officers colony, located in Ayanavaram village under the AnnaNagar SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of SBI Officers colony has changed

The guideline value for SBI Officers colony has undergone several revisions since 2002. In 2002, the value was Rs 701 per sq.ft, which increased to Rs 787 per sq.ft in 2003, marking a 12% rise. The value saw a significant jump to Rs 1,200 per sq.ft in 2007, reflecting a 52% increase. By 2012, the value was Rs 5,000 per sq.ft, showing a substantial increase of 317% from the previous revision. However, it decreased to Rs 3,350 per sq.ft in 2017, a decline of 33%.

From 2017 to 2023, the guideline value rose to Rs 5,000 per sq.ft, indicating a 49% increase. The most recent revision in 2024 set the value at Rs 5,500 per sq.ft, which is a 10% increase from the previous year. The register has no figure for SBI Officers colony for the years not mentioned in this summary.

Guideline values in Ayanavaram

Ayanavaram village consists of 369 streets under the AnnaNagar SRO, with guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value in this area is Rs 4,900 per sq.ft, placing SBI Officers colony's 2024 figure above this median.

• Sayee Nagar 3rd & 4th street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Sayee Nagar 2nd street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Sayee Nagar 1st street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Sathiyavani Muthu Street, Chennai 82: Rs 4,400 per sq.ft (2024)
• Sastri Street, Chennai 82: Rs 4,900 per sq.ft (2024)
• Seetha Thoppu: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in SBI Officers colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SBI Officers colony?

The SBI Officers colony falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate applicable fees, including stamp duty and registration fees. This value is essential for both buyers and sellers to understand their financial obligations during the transaction process.

Frequently asked questions

What is the current guideline value of SBI Officers colony?

The current guideline value of SBI Officers colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 701 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 685% over the years.

What is the land classification of SBI Officers colony?

SBI Officers colony is classified under Residential Class I Type - II land classification.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, for a property valued at Rs 55,00,000, the total fees would amount to Rs 4,95,000.

Where is the Sub Registrar Office for SBI Officers colony located?

The AnnaNagar Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.