Guideline Value for United Colony 5th Street

United Colony 5th Street guideline value

The current guideline value of United Colony 5th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of United Colony 5th Street has changed

The guideline value for United Colony 5th Street has undergone several revisions since 2007. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in both 2012 and 2023. The most recent revision in 2024 saw an increase to Rs 3,300 per sq.ft, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 230%. The register does not contain figures for the years 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with 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 is equal to the 2024 figure for United Colony 5th Street.

• United Colony 4th Street: Rs 3,300 per sq.ft (2024)
• United Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• United Colony 2nd 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 5th 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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers United Colony 5th Street?

The Sub Registrar Office that covers United Colony 5th 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 is a crucial factor during property registration in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transactions are transparent and fair.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. Understanding the guideline value can aid buyers and sellers in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of United Colony 5th Street?

The current guideline value of United Colony 5th 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 changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230% over this period.

What is the stamp duty for property in United Colony 5th Street?

The stamp duty for property in United Colony 5th Street is 7% of the guideline value or sale price, whichever is higher. For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

Which office handles registrations for United Colony 5th Street?

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

What is the classification of land in United Colony 5th Street?

The land classification for United Colony 5th Street is Residential Class I Type - I, which is designated for residential purposes.