Guideline Value for Samundariya Colony 3rd Cross Street

Samundariya Colony 3rd Cross Street guideline value

The current guideline value for Samundariya Colony 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Special Type - I.

How the guideline value of Samundariya Colony 3rd Cross Street has changed

The guideline value for Samundariya Colony 3rd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 1,100 per sq.ft. This saw a significant increase to Rs 4,000 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the value to Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 264% from 2007 to 2012, and overall, from 2007 to 2024, the increase is 300%. The register does not have figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 guideline value of Samundariya Colony 3rd Cross Street above this median.

• Samundariya Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 3rd Main Road: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 2nd Cross Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 4th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Samundariya Colony 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 4,400 per sq.ft, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samundariya Colony 3rd Cross Street?

The Sub Registrar Office that covers Samundariya Colony 3rd Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value for Samundariya Colony 3rd Cross Street?

The current guideline value for Samundariya Colony 3rd Cross Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 300% over the years.

What is the land classification for Samundariya Colony 3rd Cross Street?

Samundariya Colony 3rd Cross Street is classified as Residential Special Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.