Guideline Value for Telugu Colony

Telugu Colony guideline value

The current guideline value for Telugu Colony, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Telugu Colony has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This value decreased by 33% to Rs 804 per sq.ft in the 2017 revision. Following this, the guideline value saw a significant increase of 62%, reaching Rs 1,300 per sq.ft in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has risen by 8%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, placing Telugu Colony's 2024 figure below that median.

• Telugu Colony (North): Rs 1,300 per sq.ft (2024)
• Telugu Colony (Ward-07): Rs 1,300 per sq.ft (2024)
• Telephone Colony (Ward-08): Rs 1,600 per sq.ft (2024)
• Telephone Colony South (Ward No.8): Rs 1,600 per sq.ft (2024)
• Telephone Colony (Lakshmipuram): Rs 1,600 per sq.ft (2024)
• Telephone Colony 4th st (Ward No.8): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Telugu Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Telugu Colony?

The Telugu Colony is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is considered to assess the transaction's legitimacy. If the sale price is lower than the guideline value, the higher value is used for calculating the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Telugu Colony?

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

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017. It then increased to Rs 1,300 per sq.ft in 2024, marking an overall rise of 8% from 2012 to 2024.

What is the land classification of Telugu Colony?

Telugu Colony is classified as Residential Class III Type - I, which indicates its suitability for residential development.

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

The stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,17,000.

Which office handles property registration for Telugu Colony?

The Madhavaram Sub Registrar Office handles property registrations for Telugu Colony. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.