Guideline Value for Scavanger Colony

Scavanger Colony guideline value

The current guideline value of Scavanger Colony, located in Chengalpattu Town village under the Chengleput Joint I SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class V Type - I.

How the guideline value of Scavanger Colony has changed

Over the years, the guideline value for Scavanger Colony has seen several revisions. The 2007 revision set the value at Rs 285 per sq.ft, which significantly increased to Rs 1,500 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft. The next revision in 2023 raised it to Rs 1,500 per sq.ft, and the most recent revision in 2024 has increased it further to Rs 1,650 per sq.ft.

In terms of percentage changes, the guideline value rose by 426% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The latest change from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 479%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 3,025 per sq.ft. The guideline value of Scavanger Colony is below this median.

• Ramapalayam: Rs 1,650 per sq.ft (2024)
• Rajeswari Vedachalam Street: Rs 3,850 per sq.ft (2024)
• Rajaji Street: Rs 5,500 per sq.ft (2024)
• Ragavanar Street: Rs 3,025 per sq.ft (2024)
• Pudukarai ( Nadu Street): Rs 2,200 per sq.ft (2024)
• Pudu Eri: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Scavanger Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It's important to note that 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 Scavanger Colony?

The Sub Registrar Office that covers Scavanger Colony is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Chengalpattu Town. It serves as a benchmark for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to determine the applicable fees. This ensures that the government receives the correct revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Scavanger Colony?

The current guideline value of Scavanger Colony is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 285 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 479% over the years.

What are the stamp duty and registration fees for properties in Scavanger Colony?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registration for Scavanger Colony?

The Chengleput Joint I Sub Registrar Office handles property registration for Scavanger Colony, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification of Scavanger Colony?

Scavanger Colony is classified as Residential Class V Type - I, indicating its designation for residential use.