Guideline Value for Sambandam Colony 100 Ft Sambandam Colony

Sambandam Colony 100 Ft Sambandam Colony guideline value

The current guideline value of Sambandam Colony 100 Ft Sambandam Colony is Rs 13,200 per sq.ft, effective from 1 July 2024. This area is located in Velachery village and falls under the Velacheri SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Sambandam Colony 100 Ft Sambandam Colony has changed

The guideline value has undergone several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 12,000 per sq.ft. This value saw a decrease to Rs 8,040 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 has increased the guideline value significantly to Rs 13,200 per sq.ft, representing a 64% increase from the 2017 figure and an overall increase of 10% from the 2012 figure.

It should be noted that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft, where the median value is Rs 4,400 per sq.ft. The guideline value for Sambandam Colony 100 Ft Sambandam Colony is above this median.

• Sakthi Vijayalakshmi Nagar (Facing Bye-Pass Road): Rs 13,200 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Sakthi Vijayalakshmi Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sambandam Colony 100 Ft Sambandam Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total charges to Rs 11,88,000. It is important to note that the 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 Sambandam Colony 100 Ft Sambandam Colony?

The Sambandam Colony 100 Ft Sambandam Colony is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the value of the property and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sambandam Colony 100 Ft Sambandam Colony?

The current guideline value of Sambandam Colony 100 Ft Sambandam Colony is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, and then increased to Rs 13,200 per sq.ft in 2024.

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

For a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 and the registration fee would be Rs 2,64,000, totaling Rs 11,88,000.

Which office handles property registrations in Sambandam Colony?

The Velacheri Sub Registrar Office handles property registrations for Sambandam Colony 100 Ft Sambandam Colony, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

What is the land classification for Sambandam Colony 100 Ft Sambandam Colony?

The land classification for Sambandam Colony 100 Ft Sambandam Colony is Commercial Class I Type - I.