Guideline Value for SBI Staff colony

SBI Staff colony guideline value

The current guideline value for SBI Staff colony, located in Kaval Kazhani village under the Sunguvarchattram SRO, is Rs 226 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class II Type - I land classification.

How the guideline value of SBI Staff colony has changed

The guideline value for SBI Staff colony has undergone several revisions over the years. The 2012 revision set the guideline value at Rs 225 per sq.ft, which saw a decrease to Rs 151 per sq.ft in the 2017 revision. Following this, the value increased significantly by 50% to Rs 226 per sq.ft in the 2023 revision, which remained unchanged in the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has remained stable, with an overall change of +0%.

Guideline values in Kaval Kazhani

Kaval Kazhani village features 20 streets under the Sunguvarchattram SRO, with guideline values ranging from Rs 226 to Rs 1,550 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing SBI Staff colony's 2024 figure below this median.

• Santhosh Nagar: Rs 226 per sq.ft (2024)
• R.S Avenue: Rs 226 per sq.ft (2024)
• Ramasubbu Nagar: Rs 226 per sq.ft (2024)
• Sri Nagar: Rs 400 per sq.ft (2024)
• Sri Sheshadhri Avenue: Rs 400 per sq.ft (2024)
• Suncity: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in SBI Staff colony

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value amounts to Rs 2,26,000. The stamp duty at 7% would be Rs 15,820, while the registration fee at 2% would be Rs 4,520, bringing the total fees to Rs 20,340. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SBI Staff colony?

The SBI Staff colony falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find your specific Sub Registrar Office, visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kaval Kazhani. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When registering a property, buyers must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is legally recognized and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of SBI Staff colony?

The current guideline value of SBI Staff colony is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 225 per sq.ft in 2012 to Rs 151 per sq.ft in 2017, then increased to Rs 226 per sq.ft in 2023, remaining unchanged in 2024.

What is the land classification for SBI Staff colony?

SBI Staff colony is classified under Residential Class II Type - I, which indicates its designated use for residential purposes.

Where is the Sunguvarchattram Sub Registrar Office located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property in SBI Staff colony?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 2,26,000, the stamp duty would be Rs 15,820 at 7%.