Guideline Value for State Bank Colony 3rd Street

State Bank Colony 3rd Street guideline value

The current guideline value of State Bank Colony 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - II.

How the guideline value of State Bank Colony 3rd Street has changed

The guideline value for State Bank Colony 3rd Street has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased significantly to Rs 4,000 per sq.ft in 2012, marking a 129% rise. However, from 2012 to 2017, the value decreased to Rs 2,680 per sq.ft, a drop of 33%. The value then increased again to Rs 4,000 per sq.ft in 2023, and finally reached Rs 4,400 per sq.ft in the 2024 revision, representing a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

Overall, from 2007 to 2024, the guideline value has increased by 151%. The revisions reflect the changing valuation of properties in the area, with the most recent figure indicating a strong position relative to past values.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value in the village is Rs 3,900 per sq.ft, placing State Bank Colony 3rd Street above this median at Rs 4,400 per sq.ft.

• State Bank Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• State Bank Colony Extension: Rs 4,400 per sq.ft (2024)
• State Bank Colony Extension 3rd Main Road: Rs 4,400 per sq.ft (2024)
• State Bank Colony Ist Street: Rs 4,400 per sq.ft (2024)
• State Bank Colony Main: Rs 4,400 per sq.ft (2024)
• State Bank Colony 12th Cross Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in State Bank Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers State Bank Colony 3rd Street?

The Sub Registrar Office that covers State Bank Colony 3rd 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 Thalakanancherry

The guideline value is a crucial factor when it comes to the registration of property transactions in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government regulations.

When buyers and sellers engage in a property transaction, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction based on the official valuation set by the Registration Department.

Frequently asked questions

What is the current guideline value of State Bank Colony 3rd Street?

The current guideline value of State Bank Colony 3rd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,750 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 151% over this period.

What is the stamp duty for property in State Bank Colony 3rd Street?

The stamp duty for a property valued at Rs 44,00,000 in State Bank Colony 3rd Street would be Rs 3,08,000, calculated at a rate of 7%.

Where can I find the Sub Registrar Office for State Bank Colony 3rd Street?

The Sub Registrar Office for State Bank Colony 3rd Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and the historical changes in property values in the area.