Guideline Value for United Colony

United Colony guideline value

The current guideline value of United Colony, located in Puthur village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - IV.

How the guideline value of United Colony has changed

The guideline value for United Colony has seen several revisions over the years. In the 2012 revision, the value was Rs 1,200 per sq.ft, which decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the value by 10% to Rs 1,320 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for United Colony. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Puthur

Puthur village comprises 63 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making United Colony's current value of Rs 1,320 per sq.ft above the median.

• Thirumalai nagar Annex: Rs 1,100 per sq.ft (2024)
• Thirumalai Nagar: Rs 1,100 per sq.ft (2024)
• Thanigaivel Nagar: Rs 330 per sq.ft (2024)
• Vignesh Colony: Rs 550 per sq.ft (2024)
• Sunrise Avenue: Rs 3,300 per sq.ft (2024)
• Subramaniapuram: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in United Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers United Colony?

The Sub Registrar Office that covers United Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value plays a crucial role during the registration process of property transactions in Puthur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is in line with government regulations.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction based on the established guideline value.

Frequently asked questions

What is the current guideline value of United Colony?

The current guideline value of United Colony is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of United Colony?

United Colony is classified as Residential Special Type - IV.

Where can I find the registration office for United Colony?

The registration office for United Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, MES Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property in United Colony?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400 at a rate of 7%.