Guideline Value for Samundariya Colony 3rd Main Road

Samundariya Colony 3rd Main Road guideline value

The current guideline value for Samundariya Colony 3rd Main Road is Rs 4,400 per sq.ft. This road is located in Kolathur village under the Sembiam SRO, and the land classification is Residential Special Type - I.

How the guideline value of Samundariya Colony 3rd Main Road has changed

Since the 2007 revision, the guideline value has seen significant changes. In 2007, the value was Rs 1,100 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012, marking a rise of 264%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, where it increased to Rs 4,400 per sq.ft. This represents a 10% increase from the previous year.

Overall, from the 2007 revision to the upcoming 2024 revision, the guideline value has increased by 300%. Notably, there are no figures available for the years 2002, 2003, and 2017 for this street in the register.

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 guideline value in the area is Rs 3,300 per sq.ft, placing Samundariya Colony 3rd Main Road above this median.

• Samundariya Colony 3rd Cross Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 2nd Main Road: Rs 4,400 per sq.ft (2024)
• Samundariya Colony 5th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Samundariya Colony 3rd Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to 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, bringing the total fees to 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Samundariya Colony 3rd Main Road?

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

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

The guideline value is a crucial factor in property transactions in Kolathur. It serves as a benchmark for determining the minimum value of a property for registration purposes. When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Samundariya Colony 3rd Main Road?

The current guideline value of Samundariya Colony 3rd Main Road 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, marking an overall increase of 300% over the years.

What is the registration office for Samundariya Colony 3rd Main Road?

The registration office for Samundariya Colony 3rd Main Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the stamp duty rates applicable for properties in this area?

The stamp duty rate for properties in Samundariya Colony is 7% of the guideline value or sale price, whichever is higher.

Where can I find more information on stamp duty and registration fees?

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