Guideline Value for Telephone Colony Extension

Telephone Colony Extension guideline value

The current guideline value of Telephone Colony Extension is Rs 4,400 per sq.ft. This area is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Telephone Colony Extension has changed

The guideline value for Telephone Colony Extension has seen several revisions over the years. In 2002, the value was Rs 475 per sq.ft, which increased to Rs 519 per sq.ft in 2003. Following this, the value rose significantly to Rs 850 per sq.ft in 2007, and then to Rs 4,000 per sq.ft in 2012. However, it dropped to Rs 2,680 per sq.ft in 2017 before increasing again to Rs 4,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft.

Between the revisions, there were notable changes. From 2002 to 2003, the increase was +9%. The value surged by +64% from 2003 to 2007, followed by an astounding +371% rise from 2007 to 2012. The value then decreased by -33% from 2012 to 2017. After that, it increased by +49% from 2017 to 2023, and finally, there was a +10% increase from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by +826%.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO carrying a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median value is Rs 4,400 per sq.ft, which is equal to the guideline value of Telephone Colony Extension.

• Thangal Karai Street: Rs 3,300 per sq.ft (2024)
• Thilagar Street: Rs 3,300 per sq.ft (2024)
• State Bank Colony 3rd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 2nd Street: Rs 5,500 per sq.ft (2024)
• State Bank Colony 1st Street: Rs 5,500 per sq.ft (2024)
• S.S.R.Pankajam Street: Rs 6,050 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone 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 be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Telephone Colony Extension?

The Sub Registrar Office that covers Telephone Colony Extension is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Saligramam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Telephone Colony Extension?

The current guideline value of Telephone 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 several times, starting from Rs 475 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, marking an overall increase of +826%.

What is the land classification for Telephone Colony Extension?

Telephone Colony Extension is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 44,00,000, the total fees would amount to Rs 3,96,000.

Which office handles property registrations for Telephone Colony Extension?

The Virugambakkam Sub Registrar Office handles property registrations for Telephone Colony Extension, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.