Guideline Value

Corporate

Guideline Value for State Bank Colony 1st Street

₹3850/sq.ft.

The guideline value for State Bank Colony 1st Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Ii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Valasaravakkam

Village

Virugambakkam

SRO

Residential Class II Type - I
History
Period Guideline Value
From 1-7-2024 ₹3850 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 N/A
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1100 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹542 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹498 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on State Bank Colony 1st Street

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State Bank Colony 1st Street guideline value

The current guideline value of State Bank Colony 1st Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - I land classification.

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

The guideline value of State Bank Colony 1st Street has seen several revisions over the years. In 2002, the value was Rs 498 per sq.ft, which increased to Rs 542 per sq.ft in 2003, marking a change of +9%. The value further rose to Rs 1,100 per sq.ft in 2007, reflecting a significant increase of +103%. By 2012, the guideline value remained at Rs 3,500 per sq.ft, showing no change from the previous revision. The 2023 revision also recorded the same value of Rs 3,500 per sq.ft.

In 2024, the guideline value was revised to Rs 3,850 per sq.ft, which is an increase of +10% from the previous year. Overall, from 2002 to 2024, the guideline value has increased by +673%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO with a 2024 guideline value ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the 2024 guideline value of State Bank Colony 1st Street.

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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. Duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers State Bank Colony 1st Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Valasaravakkam. It serves as a reference point for determining the stamp duty and registration fees when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate dues during the registration process.

When a property is registered, the guideline value helps in establishing a transparent and standardized process. Buyers and sellers can rely on these values to understand the financial implications of their transactions, making it easier to navigate the real estate market.

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 3,850 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 498 per sq.ft in 2002 to Rs 3,850 per sq.ft in 2024, reflecting an overall increase of +673% over the years.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500 based on the current guideline value.

Which office handles property registrations for State Bank Colony 1st Street?

The Virugambakkam Sub Registrar Office handles property registrations for State Bank Colony 1st Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures a standardized approach to property valuation and helps buyers and sellers understand the financial aspects of their transactions.