Guideline Value for Sri Nagar Colony 5th Street

Sri Nagar Colony 5th Street guideline value

The current guideline value of Sri Nagar Colony 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Nagar Colony 5th Street has changed

Over the years, the guideline value for Sri Nagar Colony 5th Street has seen several revisions. The earliest recorded figure was Rs 700 per sq.ft in 2007, which increased significantly to Rs 3,000 per sq.ft in 2012. However, it then decreased to Rs 2,010 per sq.ft in 2017. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, marking a 64% increase from the 2017 figure.

From the 2007 revision to the 2012 revision, there was a substantial increase of 329%. However, the value saw a decline of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 371%. The register has no figures for the years 2023, 2003, and 2002 for this street.

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 across these streets is Rs 3,300 per sq.ft, which is the same as the guideline value for Sri Nagar Colony 5th Street.

• Sri Nagar Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony Annex: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• Sri Nagar Colony 1st Street: 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 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. Please 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 more details.

Which Sub Registrar Office covers Sri Nagar Colony 5th Street?

The Sub Registrar Office that covers Sri Nagar Colony 5th 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 is a critical factor in the registration of property transactions in Kolathur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value must be considered to avoid any discrepancies during registration. It is essential for both buyers and sellers to be aware of the current guideline values to ensure compliance with legal and financial obligations.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony 5th Street?

The current guideline value of Sri Nagar Colony 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 371% from the 2007 figure.

What is the land classification for Sri Nagar Colony 5th Street?

Sri Nagar Colony 5th Street is classified as Residential Class I Type - I.

What is the stamp duty for property in Sri Nagar Colony 5th Street?

The stamp duty for property in Sri Nagar Colony 5th Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it covers Sri Nagar Colony 5th Street.