Guideline Value for T.S.R.Colony

T.S.R.Colony guideline value

The current guideline value of T.S.R.Colony is Rs 7,700 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of T.S.R.Colony has changed

The guideline value for T.S.R.Colony has seen significant changes over the years. The earliest recorded figure is from 2002, when the value was Rs 1,136 per sq.ft. This increased to Rs 2,000 per sq.ft in 2007, marking a rise of 76%. In 2012, the value changed to Rs 7,000 per sq.ft, reflecting a substantial increase of 250%. However, it then decreased to Rs 4,690 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 7,000 per sq.ft in 2023, followed by the latest revision in 2024, which set the value at Rs 7,700 per sq.ft, a 10% increase from the previous year. Notably, the register has no figure for the year 2003.

Overall, from 2002 to 2024, the guideline value has increased by 578%, highlighting the fluctuations and revisions that have occurred over the years. The most significant jump occurred between 2017 and 2023, where the value surged by 49% from Rs 4,690 per sq.ft to Rs 7,000 per sq.ft.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 22,000 per sq.ft, with a median value of Rs 8,800 per sq.ft. The guideline value for T.S.R.Colony is below this median.

• Vaidyanathan Street: Rs 8,800 per sq.ft (2024)
• Vaigundapuram 1st Street: Rs 5,500 per sq.ft (2024)
• Vaigundapuram 2nd Street: Rs 5,500 per sq.ft (2024)
• Valluvarkottam 1st Lane: Rs 8,800 per sq.ft (2024)
• Valluvarkottam 2nd Lane: Rs 8,800 per sq.ft (2024)
• Valluvarkottam High Road (or) Village Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in T.S.R.Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers T.S.R.Colony?

The Sub Registrar Office that covers T.S.R.Colony is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. 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 T.S.R.Colony?

The current guideline value of T.S.R.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 1,136 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 578% over this period.

What is the land classification for T.S.R.Colony?

The land classification for T.S.R.Colony is Residential Class I Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for a property in T.S.R.Colony?

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.

Where is the Sub Registrar Office for T.S.R.Colony located?

The Sub Registrar Office for T.S.R.Colony is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.