Guideline Value for SYNDICATE BANK COLONY 10th STREET

SYNDICATE BANK COLONY 10th STREET guideline value

The current guideline value of SYNDICATE BANK COLONY 10th STREET is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Padi village, under the jurisdiction of the Villivakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of SYNDICATE BANK COLONY 10th STREET has changed

The guideline value for SYNDICATE BANK COLONY 10th STREET has seen several revisions over the years. In 2007, the guideline value was Rs 2,750 per sq.ft. This increased significantly to Rs 8,000 per sq.ft in 2012, marking a rise of 191%. However, it then decreased to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 8,000 per sq.ft in 2023, and then further increased to the current value of Rs 8,700 per sq.ft in 2024, reflecting a change of 9%.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 216%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Padi

Padi village has a range of guideline values across its 354 streets under the Villivakkam SRO, with figures for 2024 ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 3,800 per sq.ft, placing SYNDICATE BANK COLONY 10th STREET's 2024 figure above this median.

• Syndicate Bank Colony: Rs 8,700 per sq.ft (2024)
• SYNDICATE BANK COLONY 11th STREET: Rs 8,700 per sq.ft (2024)
• Suriya Apartments: Rs 8,200 per sq.ft (2024)
• Sundarar Street (Koil Land): Rs 2,500 per sq.ft (2024)
• Thamarai Kudiyeruppu: Rs 6,600 per sq.ft (2024)
• Thangavel Thottam: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in SYNDICATE BANK COLONY 10th STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value would be Rs 87,00,000. The stamp duty at 7% would amount to Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers SYNDICATE BANK COLONY 10th STREET?

The Sub Registrar Office that covers SYNDICATE BANK COLONY 10th STREET is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Padi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value is used to calculate the applicable taxes and fees. Buyers should be aware that the stamp duty and registration fees are charged on the higher of the guideline value or the sale price, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of SYNDICATE BANK COLONY 10th STREET?

The current guideline value of SYNDICATE BANK COLONY 10th STREET is Rs 8,700 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 2,750 per sq.ft in 2007 to Rs 8,700 per sq.ft in 2024, reflecting an overall increase of 216% over the years.

What is the land classification for SYNDICATE BANK COLONY 10th STREET?

SYNDICATE BANK COLONY 10th STREET is classified as Residential Special Type - III, indicating its suitability for residential development.

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

For a property valued at Rs 87,00,000, the stamp duty would be Rs 6,09,000, and the registration fee would be Rs 1,74,000, totaling Rs 7,83,000.

Which office handles property registrations for SYNDICATE BANK COLONY 10th STREET?

The Villivakkam Sub Registrar Office handles property registrations for SYNDICATE BANK COLONY 10th STREET, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.