Guideline Value for STATE BANK COLONY

State Bank Colony guideline value

The current guideline value for State Bank Colony, located in Kattankollatur village under the Chengleput Joint II SRO, is Rs 1,980 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of State Bank Colony has changed

The guideline value for State Bank Colony has seen several revisions over the years. In 2012, the value was Rs 1,800 per sq.ft. This figure remained the same until the next revision in 2017, where it decreased to Rs 1,206 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 1,980 per sq.ft, an increase of 10% from the previous year.

It is important to note that there were 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 increased by 10%.

Guideline values in Kattankollatur

In Kattankollatur, there are 453 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,612 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing State Bank Colony's 2024 figure above this median.

• Station Street (Ward -18): Rs 660 per sq.ft (2024)
• Subramania Siva Salai (Ward -8): Rs 1,320 per sq.ft (2024)
• Sundarar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Surendrapuram (N): Rs 660 per sq.ft (2024)
• Sri Sakthi Nagar (Ward -15): Rs 660 per sq.ft (2024)
• Swamy Nagar (Kr): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in State Bank Colony

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers State Bank Colony?

The Sub Registrar Office that covers State Bank Colony is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattankollatur. It serves as a basis for calculating the stamp duty and registration fees, which are mandatory for property transactions in the region.

When a property is sold, the guideline value is assessed to determine the applicable taxes. Buyers and sellers must ensure that they are aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for State Bank Colony?

The current guideline value for State Bank Colony is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the land classification for State Bank Colony?

The land classification for State Bank Colony is Residential Special Type - II.

What is the median guideline value in Kattankollatur?

The median guideline value for the 453 streets in Kattankollatur is Rs 1,100 per sq.ft, with State Bank Colony's current value being above this median.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.