Guideline Value for Sri Nagar Colony Annex

Sri Nagar Colony Annex guideline value

The current guideline value of Sri Nagar Colony Annex is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Nagar Colony Annex has changed

The guideline value for Sri Nagar Colony Annex has seen several revisions over the years. The earliest recorded value was Rs 900 per sq.ft in 2007, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value dropped to Rs 2,010 per sq.ft in 2017. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, marking a 64% increase from the 2017 figure.

From 2007 to 2012, the value increased by 233%, while from 2012 to 2017, it decreased by 33%. Overall, the guideline value has risen by 267% from 2007 to 2024. There are no figures available 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, with a median value of Rs 3,300 per sq.ft. The guideline value for Sri Nagar Colony Annex is equal to this median.

• Sri Nagar Colony 1st Street: Rs 3,300 per sq.ft (2024)
• 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 Manigandan Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar Colony Annex

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

Which Sub Registrar Office covers Sri Nagar Colony Annex?

The Sri Nagar Colony Annex is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

When buying or selling property in Kolathur, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is used as a basis for these calculations, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the guideline value as it can affect the overall cost of the transaction. Understanding the current guideline value can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony Annex?

The current guideline value of Sri Nagar Colony Annex 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 900 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 267% over the years.

What are the stamp duty rates for properties in this area?

The stamp duty rate for properties in Sri Nagar Colony Annex is 7%, calculated based on the higher of the guideline value or the sale price.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What are the guideline values for other streets in Kolathur?

Other streets in Kolathur have guideline values ranging from Rs 2,700 to Rs 3,300 per sq.ft, with several streets, including Sri Nagar Colony 1st to 5th Streets, all valued at Rs 3,300 per sq.ft in 2024.