Guideline Value for Sridevi Colony

Sridevi Colony guideline value

The current guideline value of Sridevi Colony, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 7,000 per sq.ft, effective from 1 July 2024. This area falls under the Residential Special Type - III land classification.

How the guideline value of Sridevi Colony has changed

The guideline value for Sridevi Colony has seen significant changes over the years. In the 2007 revision, the value was set at Rs 1,210 per sq.ft. This increased dramatically to Rs 6,500 per sq.ft in the 2012 revision, marking a rise of 437%. However, the value then decreased to Rs 4,355 per sq.ft in 2017, a decline of 33%. The 2023 revision saw the value rise again to Rs 6,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 7,000 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 479%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Sridevi Colony's 2024 value above this median.

• Sowbhakiya Colony S.No. 394/2: Rs 7,700 per sq.ft (2024)
• Sowbakya Colony: Rs 7,700 per sq.ft (2024)
• South Side Ganga Nagar: Rs 6,000 per sq.ft (2024)
• South Side 60 Feet Road: Rs 4,900 per sq.ft (2024)
• Soundara Pandian Salai: Rs 8,800 per sq.ft (2024)
• Somasundar Bharathy Nagar 5th Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sridevi Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, totaling Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sridevi Colony?

The Sub Registrar Office that covers Sridevi Colony is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

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

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that they are based on the official valuation rather than the negotiated sale price. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Sridevi Colony?

The current guideline value of Sridevi Colony is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,210 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 479% over the years.

What is the land classification of Sridevi Colony?

Sridevi Colony falls under the Residential Special Type - III land classification, which is important for understanding its usage and development regulations.

Where can I find the Sub Registrar Office for Sridevi Colony?

The Ashok Nagar Sub Registrar Office covers Sridevi Colony and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Sridevi Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 4,90,000.