Guideline Value for State Bank Colony 1st Street

State Bank Colony 1st Street guideline value

The current guideline value of State Bank Colony 1st Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO and is classified as Residential Class I Type - I.

How the guideline value of State Bank Colony 1st Street has changed

The guideline value for State Bank Colony 1st Street has seen several revisions over the years. In 2002, the value was Rs 500 per sq.ft, which increased to Rs 800 per sq.ft in 2003. The value rose significantly to Rs 1,250 per sq.ft in 2007, and then to Rs 4,500 per sq.ft in 2012. However, it decreased to Rs 3,015 per sq.ft in 2017. Following this, the value increased to Rs 4,500 per sq.ft in 2023, and is now set at Rs 5,000 per sq.ft from 2024.

Between the years, the changes were notable. The increase from 2017 to 2023 was +49%, while the jump from 2012 to 2017 was a decrease of -33%. The rise from 2007 to 2012 was +260%, and from 2003 to 2007, it was +56%. Additionally, the increase from 2002 to 2003 was +60%. Overall, from 2002 to 2024, the guideline value has increased by +900%. There are no figures available for revisions in years other than those mentioned.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, making the guideline value of State Bank Colony 1st Street above this median.

• State Bank Colony 2nd Street: Rs 5,000 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 5,000 per sq.ft (2024)
• State Bank Colony 4th Street: Rs 5,000 per sq.ft (2024)
• State Bank Colony 5th Street: Rs 5,000 per sq.ft (2024)
• Sundara Murthy Street: Rs 3,900 per sq.ft (2024)
• Surendira Nagar 10th Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in State Bank Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, totaling Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers State Bank Colony 1st Street?

The Sub Registrar Office that covers State Bank Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction process.

When buying or selling property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the registration process is transparent and standardized across the region.

Frequently asked questions

What is the current guideline value of State Bank Colony 1st Street?

The current guideline value of State Bank Colony 1st Street is Rs 5,000 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 500 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of +900% over the years.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, with State Bank Colony 1st Street's value being above this median.

What are the stamp duty and registration fees for property in State Bank Colony 1st Street?

The total stamp duty and registration fees for a 1,000 sq.ft plot at the current guideline value would amount to Rs 4,50,000.

Where is the Sub Registrar Office for State Bank Colony 1st Street located?

The Sub Registrar Office for State Bank Colony 1st Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.