Guideline Value for United Colony 2nd Street

United Colony 2nd Street guideline value

The current guideline value of United Colony 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of United Colony 2nd Street has changed

The guideline value for United Colony 2nd Street has seen significant changes over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This increased to Rs 3,000 per sq.ft in the 2012 revision, marking a substantial rise of 200%. The most recent revision in 2024 set the value at Rs 3,300 per sq.ft, which is a 10% increase from the 2012 figure.

It is important to note that there are no recorded figures for United Colony 2nd Street in the revisions for the years 2002, 2003, 2017, and 2023. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which aligns with the guideline value of United Colony 2nd Street.

• United Colony 1st 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 2nd Street

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

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

Which Sub Registrar Office covers United Colony 2nd Street?

The Sub Registrar Office that covers United Colony 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is an essential reference for property transactions in Kolathur, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate applicable stamp duty and registration fees.

It is crucial for buyers and sellers to be aware of the guideline value to ensure compliance with registration requirements and to avoid potential disputes during the transaction process.

Frequently asked questions

What is the current guideline value of United Colony 2nd Street?

The current guideline value of United Colony 2nd 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 increased from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 230% over the years.

What is the land classification for United Colony 2nd Street?

United Colony 2nd Street is classified as Residential Class I Type - I.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in United Colony 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at 7%.