Guideline Value

Corporate

Guideline Value for State Bank Colony 2nd Street

₹3850/sq.ft.

The guideline value for State Bank Colony 2nd Street in Valasaravakkam village (Virugambakkam SRO, Chennai zone) is Rs 3850 per sq.ft, effective 1 July 2024. 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 N/A
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹3500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹650 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
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 2nd Street

Need Complete Property Verification?

Get ownership details, EC records, FMB, zone checks, geo-insights & AI analysis - all in one place

Ownership Details
EC Records
FMB Sketch
Zone Checks
Geo-Insights
AI Analysis
Try VerifyMyLand Now ✨ Get comprehensive property verification in minutes

State Bank Colony 2nd Street guideline value

The current guideline value of State Bank Colony 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of State Bank Colony 2nd Street has changed

The guideline value for State Bank Colony 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 650 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 438% rise. However, the value decreased to Rs 2,345 per sq.ft in 2017, reflecting a 33% decline. The most recent revision in 2024 has set the guideline value at Rs 3,850 per sq.ft, which is a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from the 2007 figure to the 2024 figure, there has been an increase of 492%.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry 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 current guideline value of State Bank Colony 2nd Street.

Stamp duty and registration fee for property in State Bank Colony 2nd 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, calculated at 7%, would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total charges to Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers State Bank Colony 2nd Street?

The Sub Registrar Office that covers State Bank Colony 2nd 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 information.

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

The guideline value is a crucial factor when buying or selling property in Valasaravakkam. It serves as a benchmark for the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the transfer of ownership. This ensures that the state government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of State Bank Colony 2nd Street?

The current guideline value of State Bank Colony 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2007?

Since 2007, the guideline value for State Bank Colony 2nd Street has increased by 492%, from Rs 650 per sq.ft to Rs 3,850 per sq.ft in 2024.

What was the guideline value in 2017?

The guideline value in 2017 was Rs 2,345 per sq.ft, which was a decrease from the previous figure of Rs 3,500 per sq.ft in 2012.

Where can I find the registration office for State Bank Colony 2nd Street?

The registration office for State Bank Colony 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is stamp duty calculated for properties in Valasaravakkam?

Stamp duty for properties in Valasaravakkam is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.