Guideline Value for State Bank Officer's Colony

State Bank Officer's Colony guideline value

The current guideline value of State Bank Officer's Colony, located in Urur village under the Adayar SRO, is Rs 7,700 per sq.ft. This value is effective from the 2024 revision, which was implemented on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of State Bank Officer's Colony has changed

The guideline value for State Bank Officer's Colony has seen significant changes over the years. The earliest recorded figure is from 2003, where the value was Rs 1,360 per sq.ft. This figure increased dramatically to Rs 4,200 per sq.ft in 2007, marking a 209% rise. The value then rose to Rs 7,000 per sq.ft in 2012, reflecting a 67% increase. However, it experienced a decline to Rs 4,690 per sq.ft in 2017, which was a decrease of 33%. The value rebounded to Rs 7,000 per sq.ft in 2023, and then increased again to Rs 7,700 per sq.ft in 2024, showing a 10% rise.

Overall, from 2003 to the current 2024 figure, the guideline value has increased by 466%. It is important to note that the register does not have a figure for the year 2002 for this street.

Guideline values in Urur

In Urur, there are 176 streets under the Adayar SRO, with guideline values ranging from Rs 4,400 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, positioning State Bank Officer's Colony above this median with its current value of Rs 7,700 per sq.ft.

• Thamodarapuram 1st Street: Rs 6,100 per sq.ft (2024)
• Thamodarapuram 2nd Street: Rs 6,100 per sq.ft (2024)
• Thamodarapuram 3rd Street: Rs 6,100 per sq.ft (2024)
• Thamodarapuram Main Road: Rs 6,600 per sq.ft (2024)
• Thamodhapuram Lane: Rs 4,400 per sq.ft (2024)
• Thamotharapuram 4th Street: Rs 6,100 per sq.ft (2024)

Stamp duty and registration fee for property in State Bank Officer's Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers State Bank Officer's Colony?

The State Bank Officer's Colony falls under the jurisdiction of the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Urur. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on the official valuation set by the government.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This process ensures transparency and helps prevent undervaluation of properties during transactions.

Frequently asked questions

What is the current guideline value of State Bank Officer's Colony?

The current guideline value of State Bank Officer's Colony is Rs 7,700 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 1,360 per sq.ft in 2003 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 466% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles property registrations in State Bank Officer's Colony?

The Adayar Sub Registrar Office handles property registrations for State Bank Officer's Colony, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the median guideline value for streets in Urur?

The median guideline value for streets in Urur is Rs 6,600 per sq.ft, with State Bank Officer's Colony's current value of Rs 7,700 per sq.ft being above this median.