Guideline Value for Sri Nagar Colony 1st Street

Sri Nagar Colony 1st Street guideline value

The current guideline value of Sri Nagar Colony 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Sri Nagar Colony 1st Street has changed

The guideline value for Sri Nagar Colony 1st Street has undergone several revisions since 2007. In the 2007 revision, the guideline value was Rs 700 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in the 2012 revision, reflecting a change of +329%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a +10% increase from the 2012 figure.

There are no figures available for the revisions in 2002, 2003, 2017, and 2023 for this street. Overall, from 2007 to 2024, the guideline value has increased by +371%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Sri Nagar Colony 1st Street.

• Sri Nagar Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony Annex: Rs 3,300 per sq.ft (2024)
• Sri Manigandan Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar Colony 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 33,00,000. The stamp duty at 7% amounts to Rs 2,31,000, and the registration fee at 2% is Rs 66,000, together totaling Rs 2,97,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagar Colony 1st Street?

The Sub Registrar Office that covers Sri Nagar Colony 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Kolathur. It is used to determine the stamp duty and registration fees that buyers must pay when registering a property. The guideline value is set by the government and reflects the market conditions and land classification in the area.

When buying or selling a property, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in property dealings. Buyers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony 1st Street?

The current guideline value of Sri Nagar Colony 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 3,300 per sq.ft in 2024, which is an overall increase of +371%.

What was the guideline value in 2012?

The guideline value for Sri Nagar Colony 1st Street in 2012 was Rs 3,000 per sq.ft.

Are there any years without a guideline value for this street?

Yes, there are no figures available for the years 2002, 2003, 2017, and 2023 for Sri Nagar Colony 1st Street.

What is the registration office for Sri Nagar Colony 1st Street?

The registration office for Sri Nagar Colony 1st Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.