Guideline Value for South Colony Street

South Colony Street guideline value

The current guideline value of South Colony 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 Street has changed

The guideline value of South Colony Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,107 per sq.ft, which increased to Rs 1,653 per sq.ft in 2023. The latest revision in 2024 has raised the value to Rs 1,830 per sq.ft, marking an increase of 11% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 65%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for South Colony Street. The significant changes between the revisions demonstrate a steady rise in the guideline value, particularly from 2017 to 2023, where it increased by 49%.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing South Colony Street's 2024 figure below the median.

• South Colony 1st, 2nd & 3rd 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 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, while the registration fee at 2% would be Rs 36,600, bringing the total fees to Rs 1,64,700. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers South Colony Street?

The Sub Registrar Office that covers South Colony 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 an essential factor when buying or selling property in Mangadu -A. It serves as a benchmark for determining the stamp duty and registration fees required during the property registration process.

When a property transaction occurs, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of South Colony Street?

The current guideline value of South Colony 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 increased from Rs 1,107 per sq.ft in 2017 to Rs 1,830 per sq.ft in 2024, marking an overall increase of 65% over this period.

What is the median guideline value for streets in Mangadu -A?

The median guideline value for streets in Mangadu -A is Rs 1,870 per sq.ft, which is higher than the current value of South Colony Street.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 18,30,000, the total fees would amount to Rs 1,64,700.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it covers South Colony Street.