Guideline Value for United Colony 3rd Street

United Colony 3rd Street guideline value

The current guideline value of United Colony 3rd 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of United Colony 3rd Street has changed

The guideline value for United Colony 3rd Street has seen several revisions over the years. The earliest recorded figure was Rs 1,000 per sq.ft in the 2007 revision. This value increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% rise. The most recent revision in 2024 set the guideline 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 figures available for the years 2023, 2017, 2003, and 2002 for this street. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which matches the current value for United Colony 3rd Street.

• United Colony 4th Street: Rs 3,300 per sq.ft (2024)
• United Colony 2nd Street: Rs 3,300 per sq.ft (2024)
• United Colony 5th Street: Rs 3,300 per sq.ft (2024)
• United Colony 1st 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 3rd 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, making the total cost for these fees Rs 2,97,000. 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 more details.

Which Sub Registrar Office covers United Colony 3rd Street?

The Sub Registrar Office that covers United Colony 3rd 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 stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of United Colony 3rd Street?

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

How much has the guideline value changed over the years?

From the 2007 revision to the 2012 revision, the guideline value increased from Rs 1,000 per sq.ft to Rs 3,000 per sq.ft. The value further rose to Rs 3,300 per sq.ft in the 2024 revision.

Is there any guideline value available for the years 2023 and 2017?

No, the register has no figure for United Colony 3rd Street for the years 2023 and 2017.

What is the registration fee for property in United Colony 3rd Street?

The registration fee for property in United Colony 3rd Street is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Where can I find the Sub Registrar Office for United Colony 3rd Street?

The Sub Registrar Office covering United Colony 3rd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.