Guideline Value for UNITY COLONY (KR)

Unity Colony (Kr) guideline value

The current guideline value for Unity Colony (Kr) in Ninna Karai village is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Unity Colony (Kr) has changed

The guideline value for Unity Colony (Kr) has seen several revisions over the years. In 2012, the value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and then rose again to Rs 990 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Unity Colony (Kr) below this median.

• Union Salai, Peramnur (Ward -15): Rs 440 per sq.ft (2024)
• Umarupulavar Street (Ward -6): Rs 1,760 per sq.ft (2024)
• Udaiyar Street (Ward -18): Rs 660 per sq.ft (2024)
• Udaiyar Street Ninnakkarai (Ward -19): Rs 660 per sq.ft (2024)
• Vaamana Munivar Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Vaanavaramban Street (Ward -4): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Unity Colony (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Unity Colony (Kr)?

The Sub Registrar Office that covers Unity Colony (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of properties in Ninna Karai. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official rates set by the government.

It is essential for buyers and sellers to be aware of the current guideline value when engaging in property transactions. This value not only affects the financial aspects of the deal but also ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Unity Colony (Kr)?

The current guideline value of Unity Colony (Kr) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the registration fees for property in Unity Colony (Kr)?

For a property valued at Rs 9,90,000, the stamp duty is Rs 69,300 and the registration fee is Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Unity Colony (Kr)?

The Chengleput Joint II Sub Registrar Office covers Unity Colony (Kr) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value determined for properties in Ninna Karai?

The guideline value for properties in Ninna Karai is determined by the government and is used to calculate stamp duty and registration fees during property transactions. It reflects the official rates set for various streets in the area.