Guideline Value for STATE BANK OF COLONY

State Bank Of Colony guideline value

The current guideline value of State Bank Of Colony is Rs 2,800 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of State Bank Of Colony has changed

The guideline value for State Bank Of Colony has undergone several revisions over the years. In 2007, the guideline value was Rs 600 per sq.ft, which increased significantly to Rs 2,600 per sq.ft in 2012, marking a 333% rise. However, this value decreased to Rs 1,742 per sq.ft in 2017, reflecting a 33% decline. The value then surged to Rs 2,600 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft following the 2024 revision, which is an 8% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 367%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, indicating that the 2024 figure for State Bank Of Colony is below this median.

• Subramaniyam Nagar: Rs 1,500 per sq.ft (2024)
• Sudhanthirapuram: Rs 2,150 per sq.ft (2024)
• Srinivasa Anvenue: Rs 2,800 per sq.ft (2024)
• Teachers Nagar: Rs 1,500 per sq.ft (2024)
• Thilagar Nagar: Rs 1,900 per sq.ft (2024)
• Thiruchinaguppam Road: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in State Bank Of Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total cost for these fees to Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating your fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers State Bank Of Colony?

The State Bank Of Colony is covered by the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Thiruvottiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs reflect the official valuation of the property.

When buyers or sellers engage in property transactions, the guideline value is used to determine the legal and financial obligations associated with the sale. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of State Bank Of Colony?

The current guideline value of State Bank Of Colony is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 367% over the years.

What is the land classification for State Bank Of Colony?

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

What are the stamp duty and registration fees for property in State Bank Of Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,52,000, based on the guideline value of Rs 28,00,000.

Which Sub Registrar Office covers State Bank Of Colony?

The Thiruvottiyur Sub Registrar Office covers State Bank Of Colony, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.