Guideline Value for Sree Residency

Sree Residency guideline value

The current guideline value of Sree Residency in Kolacheri village, under the Kunrathur SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - I land classification.

How the guideline value of Sree Residency has changed

The guideline value for Sree Residency has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, this figure dropped to Rs 402 per sq.ft in 2017 before rising again to Rs 600 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 660 per sq.ft.

Examining the changes between these revisions, the value increased by 140% from 2007 to 2012, then decreased by 33% from 2012 to 2017. Following that, the value surged by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has increased by 164%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolacheri

In Kolacheri, there are 13 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,450 per sq.ft, with the median being Rs 660 per sq.ft. Sree Residency's 2024 figure is equal to this median.

• Sri Janani Nagar: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Annexe: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar & Extn: Rs 660 per sq.ft (2024)
• Sri Karumariamman Nagar Phase I: Rs 660 per sq.ft (2024)
• Sri Panjali Amman Nagar: Rs 660 per sq.ft (2024)
• Sri Ponniamman Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Sree Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sree Residency?

The Sree Residency property is covered by 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 Kolacheri

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

When a property is sold, 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 for Sree Residency?

The current guideline value for Sree Residency is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 250 per sq.ft in 2007 to Rs 660 per sq.ft in 2024, reflecting an overall increase of 164% since 2007.

What are the stamp duty and registration fees for Sree Residency?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 46,200, and the registration fee would be Rs 13,200, totaling Rs 59,400.

Which office handles the registration for Sree Residency?

The Kunrathur Sub Registrar Office handles the registration for Sree Residency, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the median guideline value for streets in Kolacheri?

The median guideline value for streets in Kolacheri is Rs 660 per sq.ft, which is also the guideline value for Sree Residency.