Guideline Value for Voltas Colony 2nd Street

Voltas Colony 2nd Street guideline value

The current guideline value of Voltas Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - II.

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

In the 2007 revision, the guideline value was Rs 1,750 per sq.ft. This increased significantly to Rs 4,000 per sq.ft in the 2012 revision, marking a rise of 129%. However, it then decreased to Rs 2,680 per sq.ft in the 2017 revision, which was a decline of 33%. The value rose again to Rs 4,000 per sq.ft in the 2023 revision, reflecting a 49% increase. The current value, effective from 1 July 2024, is Rs 4,400 per sq.ft, a 10% increase from the previous year.

The guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 151%.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO carrying a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value of Voltas Colony 2nd Street is above this median.

• Voltas Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 6th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 7th Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Voltas Colony 2nd Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Voltas Colony 2nd Street?

The Sub Registrar Office covering Voltas Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of Voltas Colony 2nd Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 1,750 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, marking an overall increase of 151%.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 3,96,000.

Where can I find the Sub Registrar Office for Voltas Colony 2nd Street?

The Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

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

Voltas Colony 2nd Street is classified as Residential Class I Type - II, which indicates its use for residential purposes.