Guideline Value for WEST COLLEGE ROAD

West College Road guideline value

The current guideline value of West College Road is Rs 6,000 per sq.ft, effective from 1 July 2024. This road is located in Arumbakkam village and falls under the Kodambakkam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of West College Road has changed

The guideline value for West College Road has seen several revisions over the years. The earliest recorded figure is from 2002, where the value was Rs 583 per sq.ft. This increased to Rs 900 per sq.ft in 2003, marking a 54% rise. In 2007, the value jumped significantly to Rs 1,250 per sq.ft, reflecting a 39% increase. The 2012 revision saw the value remain at Rs 5,500 per sq.ft, which was a decrease of 33% from the previous figure. By 2017, the guideline value rose to Rs 3,685 per sq.ft, a 49% increase from 2012. The value continued to rise, reaching Rs 5,500 per sq.ft in 2023, before finally settling at Rs 6,000 per sq.ft in the 2024 revision, which is a 9% increase from the previous year.

There are no recorded figures for West College Road for the years not mentioned in the revisions. Overall, from 2002 to 2024, the guideline value has increased by 929%.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that have a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,000 per sq.ft, which is the same as the current guideline value for West College Road.

• West Kamarajar Road: Rs 3,300 per sq.ft (2024)
• Water Tank Road Cross Street: Rs 7,500 per sq.ft (2024)
• Vivekanandar Street: Rs 6,000 per sq.ft (2024)
• Visalakshi Street: Rs 5,000 per sq.ft (2024)
• Vinayagapuram Main Road: Rs 7,700 per sq.ft (2024)
• Vinayagapuram Ist Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in West College Road

For a 1,000 sq.ft plot at the current rate of Rs 6,000 per sq.ft, the guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that 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 West College Road?

The Sub Registrar Office that covers West College Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Arumbakkam. It is the basis for calculating the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of West College Road?

The current guideline value of West College Road is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for West College Road has increased from Rs 583 per sq.ft in 2002 to Rs 6,000 per sq.ft in 2024, representing an overall increase of 929%.

What is the land classification for West College Road?

The land classification for West College Road is Residential Special Type - II, indicating its designated use for residential purposes.

Where can I find the registration office for West College Road?

The registration office for West College Road is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 60,00,000, the stamp duty would be Rs 4,20,000 at a rate of 7%.