Guideline Value for South Colony 1st, 2nd & 3rd Street

South Colony 1st, 2nd & 3rd Street guideline value

The current guideline value for South Colony 1st, 2nd & 3rd Street is Rs 1,830 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of South Colony 1st, 2nd & 3rd Street has changed

In the 2017 revision, the guideline value was Rs 1,107 per sq.ft. This figure increased to Rs 1,653 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,830 per sq.ft, reflecting an increase of 11% from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no registered figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft, with a median value of Rs 1,870 per sq.ft. The guideline value for South Colony 1st, 2nd & 3rd Street is below this median.

• South Colony Street: Rs 1,830 per sq.ft (2024)
• South Kamatchi Nagar: Rs 1,830 per sq.ft (2024)
• South Mada Street: Rs 1,830 per sq.ft (2024)
• South Street: Rs 1,830 per sq.ft (2024)
• Sree Kamatchi Amman Nagar: Rs 3,300 per sq.ft (2024)
• S.K.M. Nagar: Rs 1,830 per sq.ft (2024)

Stamp duty and registration fee for property in South Colony 1st, 2nd & 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,830 per sq.ft, the total guideline value would be Rs 18,30,000. The stamp duty at 7% would amount to Rs 1,28,100, and the registration fee at 2% would be Rs 36,600, bringing the total cost for these fees to Rs 1,64,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers South Colony 1st, 2nd & 3rd Street?

The Sub Registrar Office that covers South Colony 1st, 2nd & 3rd Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor during the registration process when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the guideline value helps ensure that the fees are calculated based on a standardized value, promoting transparency in property transactions. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value for South Colony 1st, 2nd & 3rd Street?

The current guideline value for South Colony 1st, 2nd & 3rd Street is Rs 1,830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,107 per sq.ft in 2017 to Rs 1,830 per sq.ft in 2024, reflecting an overall increase of 65% over this period.

What are the stamp duty and registration fees for this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,64,700.

Which Sub Registrar Office handles properties in this area?

The Kunrathur Sub Registrar Office handles properties in South Colony 1st, 2nd & 3rd Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

Are there other streets with the same guideline value?

Yes, several other streets in Mangadu -A have the same guideline value of Rs 1,830 per sq.ft for the year 2024, including South Colony Street, South Kamatchi Nagar, South Mada Street, South Street, and S.K.M. Nagar.