Guideline Value for State Bank Colony Ist Street

State Bank Colony Ist Street guideline value

The current guideline value of State Bank Colony Ist Street is Rs 4,400 per sq.ft. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of State Bank Colony Ist Street has changed

The guideline value for State Bank Colony Ist Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value saw a significant increase of 49%, bringing it back up to Rs 4,000 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are a total of 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 for these streets is Rs 3,900 per sq.ft, indicating that the 2024 figure for State Bank Colony Ist Street is above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be 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 the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers State Bank Colony Ist Street?

The Sub Registrar Office that covers State Bank Colony Ist 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 details.

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

The guideline value is a crucial factor when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed several times, from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value for streets in Thalakanancherry?

The median guideline value for the 318 streets in Thalakanancherry is Rs 3,900 per sq.ft, with State Bank Colony Ist Street's 2024 figure being above this median.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

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

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