Guideline Value for State Bank Colony (All Streets)

State Bank Colony (All Streets) guideline value

The current guideline value of State Bank Colony (All Streets) is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Pammal village, under the Pammal SRO, and is classified as Commercial Class I Type - II.

How the guideline value of State Bank Colony (All Streets) has changed

The guideline value for State Bank Colony has seen significant changes over the years. In 2002, the guideline value was Rs 258 per sq.ft, which increased to Rs 292 per sq.ft in 2003, marking a 13% rise. By 2007, the value further increased to Rs 360 per sq.ft, a 23% increase from the previous revision. The 2017 revision saw a substantial jump to Rs 1,675 per sq.ft, reflecting a 365% increase from 2007. The value then rose to Rs 2,500 per sq.ft in 2023, which was a 49% increase from 2017. The most recent revision in 2024 has set the guideline value at Rs 2,750 per sq.ft, representing a 10% increase from 2023. It is important to note that the register has no figure for this street in 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,090 per sq.ft, positioning State Bank Colony's current value above this median.

• Stalin Street, Moovendhar Ngar: Rs 1,980 per sq.ft (2024)
• Stalin Street (4th Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (3rd Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (2nd Street): Rs 1,980 per sq.ft (2024)
• Stalin Street (1st Street): Rs 1,980 per sq.ft (2024)
• St. Thomas Street / Muthamazhi Nagar: Rs 2,475 per sq.ft (2024)

Stamp duty and registration fee for property in State Bank Colony (All Streets)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers State Bank Colony (All Streets)?

The Sub Registrar Office that covers State Bank Colony is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Pammal, as it determines the minimum value at which a property can be registered. This value helps in calculating the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value acts as a benchmark to ensure that the sale price is not undervalued. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of State Bank Colony?

The current guideline value of State Bank Colony (All Streets) is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 258 per sq.ft in 2002 to Rs 2,750 per sq.ft in 2024, showing an overall increase of 966% across the revisions.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, with State Bank Colony's current value being above this median.

What are the stamp duty and registration fees for property in State Bank Colony?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 27,50,000, the total charges would be Rs 2,47,500.

Where is the Sub Registrar Office for State Bank Colony located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.