Guideline Value for State Bank Colony 4th Street

State Bank Colony 4th Street guideline value

The current guideline value of State Bank Colony 4th 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 falls under the Residential Class I Type - I land classification.

How the guideline value of State Bank Colony 4th Street has changed

The guideline value for State Bank Colony 4th Street has undergone several revisions over the years. The earliest recorded figure is from 2002, which was Rs 500 per sq.ft. This value increased to Rs 800 per sq.ft in 2003, marking a 60% rise. In 2007, the guideline value saw a significant jump to Rs 1,250 per sq.ft, reflecting a 56% increase. The value then rose dramatically to Rs 4,500 per sq.ft in 2012, which was a 260% increase from the previous revision. However, it decreased by 33% to Rs 3,015 per sq.ft in 2017. The value then increased to Rs 4,500 per sq.ft in 2023, followed by the current figure of Rs 5,000 per sq.ft in 2024, which is an 11% increase from the previous year.

There are no figures available for the revisions between the years not listed. Overall, from 2002 to 2024, the guideline value has increased by 900%.

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 for these streets is Rs 3,900 per sq.ft, placing State Bank Colony 4th Street's 2024 figure above the median.

• State Bank Colony 5th Street: Rs 5,000 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 5,000 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 5,000 per sq.ft (2024)
• State Bank Colony 1st 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 4th 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, bringing the total fees to 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.

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

Which Sub Registrar Office covers State Bank Colony 4th Street?

The Sub Registrar Office that covers State Bank Colony 4th 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 an essential factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the officially recognized value of the property.

When a property is registered, the guideline value is used to determine the applicable fees, which are calculated based on either the guideline value or the sale price, whichever is higher. This ensures that the transaction is processed according to the established regulations.

Frequently asked questions

What is the current guideline value of State Bank Colony 4th Street?

The current guideline value of State Bank Colony 4th 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 from Rs 500 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, marking an overall increase of 900% over the years.

What are the stamp duty and registration fees for property in State Bank Colony 4th Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 50,00,000. The stamp duty would be Rs 3,50,000, and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles the registration for State Bank Colony 4th Street?

The Alandur Sub Registrar Office handles the registration for State Bank Colony 4th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for State Bank Colony 4th Street?

State Bank Colony 4th Street is classified as Residential Class I Type - I, indicating its designation for residential development.