Guideline Value for State Bank colony Extension

State Bank colony Extension guideline value

The current guideline value of State Bank colony Extension in Thalakanancherry village is Rs 4,400 per sq.ft, effective from 1 July 2024. This property falls under the Alandur SRO and is classified as Residential Class I Type - II.

How the guideline value of State Bank colony Extension has changed

Over the years, the guideline value for State Bank colony Extension has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 1,750 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in 2012, marking a 129% rise. However, it then decreased to Rs 2,680 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 151% in the guideline value for this street.

Guideline values in Thalakanancherry

Thalakanancherry village has 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, placing State Bank colony Extension above this median at Rs 4,400 per sq.ft.

• 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 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 Extension

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 for these fees to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers State Bank colony Extension?

The Sub Registrar Office that covers State Bank colony Extension 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

When buying or selling property in Thalakanancherry, the guideline value is a crucial reference point for determining the stamp duty and registration fees. It serves as a benchmark for the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value.

During the registration process, the guideline value helps in calculating the applicable fees, which are essential for the legal transfer of property ownership. This ensures transparency and compliance with local regulations in property transactions.

Frequently asked questions

What is the current guideline value for State Bank colony Extension?

The current guideline value for State Bank colony Extension 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 significantly from Rs 1,750 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value for streets in Thalakanancherry?

The median guideline value for streets in Thalakanancherry is Rs 3,900 per sq.ft, with State Bank colony Extension being above this median at Rs 4,400 per sq.ft.

What are the stamp duty and registration fees for property in State Bank colony Extension?

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 Extension located?

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