Guideline Value for Suguna Colony

Suguna Colony guideline value

The current guideline value of Suguna Colony, located in Zaminpallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Suguna Colony has changed

The guideline value for Suguna Colony has seen significant changes over the years. In 2003, the guideline value was Rs 199 per sq.ft, which increased to Rs 600 per sq.ft in 2007, marking a 202% increase. By 2012, it remained at Rs 3,000 per sq.ft, and this figure stayed the same until the 2023 revision, which also recorded Rs 3,000 per sq.ft. However, in 2024, the guideline value rose to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1558%. Notably, there are no figures available for the years 2002 and 2017 in the register for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft, with the median value being Rs 3,300 per sq.ft. Suguna Colony's 2024 guideline value aligns with this median.

• Suguna Colony Ext: Rs 3,300 per sq.ft (2024)
• Sudukadu Street: Rs 2,160 per sq.ft (2024)
• Subramaniyar Koil North Street: Rs 3,300 per sq.ft (2024)
• Subramaniyar Koil 2nd Street: Rs 3,300 per sq.ft (2024)
• Subramaniyar Koil 1st Street: Rs 3,300 per sq.ft (2024)
• Subramaniya Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Suguna Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost to Rs 2,97,000. 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 Suguna Colony?

The Suguna Colony area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Suguna Colony?

The current guideline value of Suguna Colony is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 199 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 1558% over the years.

What are the stamp duty and registration fees for property in Suguna Colony?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Suguna Colony?

The Pallavaram Sub Registrar Office covers Suguna Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Suguna Colony?

Suguna Colony is classified as Residential Class I Type - II, indicating its suitability for residential development.