Guideline Value for Voltas Colony 7th Street

Voltas Colony 7th Street guideline value

The current guideline value of Voltas Colony 7th Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Voltas Colony 7th Street has changed

The guideline value for Voltas Colony 7th Street has undergone several revisions over the years. The oldest figure available is from 2012, which was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. The value then increased to Rs 4,000 per sq.ft in 2023, and finally, the current value is Rs 4,400 per sq.ft as of the 2024 revision.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it saw a significant increase of 49%. The transition from 2023 to 2024 marks a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, making the 2024 figure for Voltas Colony 7th Street above the median.

• Voltas Colony 6th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 8th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 5th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 9th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony 4th Street: Rs 4,400 per sq.ft (2024)
• Voltas Colony Extension: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Voltas Colony 7th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Voltas Colony 7th Street?

The Sub Registrar Office that covers Voltas Colony 7th Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

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

When buying or selling property, the guideline value helps in assessing the fair value of the property. Buyers and sellers must consider this value to avoid discrepancies during the registration process, as it is the basis for calculating the applicable fees.

Frequently asked questions

What is the current guideline value of Voltas Colony 7th Street?

The current guideline value of Voltas Colony 7th 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 from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Thalakanancherry?

The median guideline value in Thalakanancherry is Rs 3,900 per sq.ft, with Voltas Colony 7th Street's value being above this median.

What are the stamp duty and registration fees for property in Voltas Colony 7th Street?

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

Which office handles registrations for Voltas Colony 7th Street?

The Alandur Sub Registrar Office handles registrations for Voltas Colony 7th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.