Guideline Value for Samundariya Colony 4th Street

Samundariya Colony 4th Street guideline value

The current guideline value of Samundariya Colony 4th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Samundariya Colony 4th Street has changed

The guideline value for Samundariya Colony 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,100 per sq.ft. This value saw a significant increase to Rs 4,000 per sq.ft in 2012, marking a change of +264%. The value remained unchanged at Rs 4,000 per sq.ft until the 2023 revision, which increased it to Rs 4,400 per sq.ft, a rise of +10%.

From 2007 to the current 2024 revision, the overall increase in guideline value is +300%. The register has no 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, with a median value of Rs 3,300 per sq.ft. The guideline value of Samundariya Colony 4th Street is above this median.

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

Stamp duty and registration fee for property in Samundariya Colony 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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 4th Street?

The Sub Registrar Office that covers Samundariya Colony 4th Street 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

When buying or selling property in Kolathur, the guideline value is a crucial factor that determines the stamp duty and registration fees. The guideline value is set by the government and is used as a reference point for property transactions, ensuring that the transaction value is in line with market rates.

At the time of registration, the buyer must pay 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 Samundariya Colony 4th Street?

The current guideline value of Samundariya Colony 4th 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, showing an overall increase of +300% over the years.

What is the land classification for Samundariya Colony 4th Street?

The land classification for Samundariya Colony 4th Street is Residential Special Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is 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. For example, a property with a guideline value of Rs 44,00,000 would incur a stamp duty of Rs 3,08,000 at a rate of 7%.