Guideline Value for Telephone Colony

Telephone Colony guideline value

The current guideline value of Telephone Colony, located in Sembiam village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Telephone Colony has changed

The guideline value for Telephone Colony has seen several revisions over the years. In the 2007 revision, the guideline value was Rs 700 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in the 2012 revision, marking a 257% increase. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose to Rs 2,500 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,700 per sq.ft in the 2024 revision, reflecting an 8% rise.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 286%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of Telephone Colony. Below are some other streets in Sembiam:

• Thanigachalam Mudali Street: Rs 2,700 per sq.ft (2024)
• Thilaiyadi Valliammai Street: Rs 2,700 per sq.ft (2024)
• Sudukattu Street: Rs 2,700 per sq.ft (2024)
• Subramaniya Thottam: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 1st Street: Rs 2,700 per sq.ft (2024)
• Thillainayagam Pillai 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Telephone Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost to Rs 2,43,000. Please 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 Telephone Colony?

The Sub Registrar Office covering Telephone Colony is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Sembiam. When a property is bought or sold, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for legal documentation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the costs associated with property transactions. Accurate knowledge of these values helps in planning the financial aspects of buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Telephone Colony?

The current guideline value of Telephone Colony is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased from Rs 700 per sq.ft to Rs 2,700 per sq.ft in 2024. The most notable changes include a 257% increase from 2007 to 2012 and an 8% increase from 2023 to 2024.

What is the land classification for Telephone Colony?

Telephone Colony is classified as Residential Class I Type - I, indicating its zoning for residential purposes.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles property registrations for the area.

How is stamp duty calculated for properties in Telephone Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 1,89,000.