Guideline Value for United Colony 1st Street

United Colony 1st Street guideline value

The current guideline value of United Colony 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of United Colony 1st Street has changed

The guideline value for United Colony 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. The value remained unchanged at Rs 3,000 per sq.ft until the 2023 revision, where it was again set at Rs 3,000 per sq.ft. The latest revision in 2024 saw an increase of 10%, bringing the current guideline value to Rs 3,300 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2017 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are a total of 879 streets under the Sembiam SRO, with the 2024 guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of United Colony 1st Street.

• United Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• United Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• United Colony 4th Street: Rs 3,300 per sq.ft (2024)
• United Colony 5th Street: Rs 3,300 per sq.ft (2024)
• Unnamalai Street: Rs 2,700 per sq.ft (2024)
• Umamageshwari Nagar: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in United Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty, charged at 7%, would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers United Colony 1st Street?

The Sub Registrar Office that covers United Colony 1st Street 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 Kolathur

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in transactions.

When registering a property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of United Colony 1st Street?

The current guideline value of United Colony 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, increasing from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% from 2007 to 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office handles registrations for United Colony 1st Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for United Colony 1st Street.

What is the land classification for United Colony 1st Street?

United Colony 1st Street is classified as Residential Class I Type - I, indicating its suitability for residential development.