Guideline Value for Sardar Colony 2nd Lane

Sardar Colony 2nd Lane guideline value

The current guideline value of Sardar Colony 2nd Lane is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Sardar Colony 2nd Lane has changed

In the 2012 revision, the guideline value was Rs 2,800 per sq.ft. This figure remained the same in the 2012 revision, but decreased to Rs 1,876 per sq.ft in the 2017 revision, marking a decline of 33%. Following this, the guideline value saw a significant increase of 49% to Rs 2,800 per sq.ft in the 2023 revision, and then rose by 10% to the current value of Rs 3,080 per sq.ft in the 2024 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. The guideline value of Sardar Colony 2nd Lane is below this median.

• Sardar Colony 1st Main Road: Rs 3,520 per sq.ft (2024)
• Sardar Colony 2nd Street: Rs 3,080 per sq.ft (2024)
• Sardar Colony 1st Lane: Rs 3,080 per sq.ft (2024)
• Sardar Colony 3rd Lane: Rs 3,080 per sq.ft (2024)
• Sardar Colony: Rs 3,520 per sq.ft (2024)
• Sardar Colony 3rd Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Sardar Colony 2nd Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,080 per sq.ft, the total guideline value would be Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, making the total charges Rs 2,77,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can calculate your exact charges using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sardar Colony 2nd Lane?

The Sardar Colony 2nd Lane falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is essential for property transactions in Ekkaduthangal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is crucial for buyers and sellers to be aware of the current guideline value, as it affects the overall cost of property transactions. Understanding these values helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Sardar Colony 2nd Lane?

The current guideline value of Sardar Colony 2nd Lane is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,800 per sq.ft in 2012 to Rs 1,876 per sq.ft in 2017, then increased to Rs 2,800 per sq.ft in 2023, and finally to Rs 3,080 per sq.ft in 2024.

What is the land classification for Sardar Colony 2nd Lane?

Sardar Colony 2nd Lane is classified as Residential Class IV Type - I, which indicates its designation for residential use.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 30,80,000, the total fees would amount to Rs 2,77,200.

Where can I find more information about the SRO?

More information about the Sub Registrar Office can be found by visiting the link to find your SRO.