Guideline Value for kottai colony

Kottai Colony guideline value

The current guideline value of Kottai Colony, located in Thirupachur village, is Rs 300 per sq.ft, effective from 1 July 2024. This property falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class III Type - III.

How the guideline value of Kottai Colony has changed

Over the years, the guideline value of Kottai Colony has seen several revisions. The earliest recorded figure is from 2007, where the guideline value was Rs 50 per sq.ft. This increased significantly to Rs 300 per sq.ft in 2012, marking a 500% rise. However, the value then decreased to Rs 201 per sq.ft in 2017, reflecting a 33% drop. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 300 per sq.ft, showing no change.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. From 2017 to 2023, the guideline value increased by 49%, and overall, from 2007 to 2024, there has been a substantial increase of 500%.

Guideline values in Thirupachur

In Thirupachur, there are 19 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft, with a median value of Rs 550 per sq.ft. The guideline value of Kottai Colony is below this median.

• Kosa street: Rs 550 per sq.ft (2024)
• Kumaran Nagar: Rs 400 per sq.ft (2024)
• Manthoppu street: Rs 550 per sq.ft (2024)
• Kadai street: Rs 1,000 per sq.ft (2024)
• J. J.Nagar: Rs 400 per sq.ft (2024)
• Mettu street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Kottai Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kottai Colony?

Kottai Colony falls under the jurisdiction of the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a critical figure used during the registration of property transactions in Thirupachur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Kottai Colony?

The current guideline value of Kottai Colony is Rs 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 50 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, and remained at Rs 300 per sq.ft in 2023 and 2024.

What is the median guideline value in Thirupachur?

The median guideline value in Thirupachur is Rs 550 per sq.ft, with Kottai Colony's value being below this median.

What are the stamp duty and registration fees for Kottai Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees amount to Rs 27,000, based on a guideline value of Rs 3,00,000.

Where is the Sub Registrar Office for Kottai Colony located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.