Guideline Value for Airport Exployee Colony 2nd Street

Airport Exployee Colony 2nd Street guideline value

The current guideline value of Airport Exployee Colony 2nd Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO, classified as Residential Class IV Type - I.

How the guideline value of Airport Exployee Colony 2nd Street has changed

The guideline value for Airport Exployee Colony 2nd Street has undergone several revisions over the years. In 2007, the guideline value was set at Rs 300 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in 2012, marking a 200% rise. However, by 2017, the value decreased to Rs 603 per sq.ft, representing a decline of 33%. The value then rose to Rs 900 per sq.ft in 2023, before reaching the current rate of Rs 950 per sq.ft in 2024, which is a 6% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 217%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the 2024 figure for Airport Exployee Colony 2nd Street is below this median.

• Airport Exployee Colony 1st Street: Rs 950 per sq.ft (2024)
• Airport Colony Extension: Rs 6,700 per sq.ft (2024)
• Airport Colony: Rs 950 per sq.ft (2024)
• Agasthiar Street: Rs 950 per sq.ft (2024)
• Adhi Parnthamanar Street: Rs 850 per sq.ft (2024)
• Ambal Nagar: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, making the total charges Rs 85,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Airport Exployee Colony 2nd Street?

The Airport Exployee Colony 2nd Street falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration of property transactions in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is registered, the guideline value is used to calculate the applicable charges, ensuring that both buyers and sellers are aware of the financial implications of their transactions. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

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

The current guideline value of Airport Exployee Colony 2nd Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, marking an overall increase of 217% over the years.

What is the registration office for Airport Exployee Colony 2nd Street?

The registration office for Airport Exployee Colony 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 9,50,000 would incur a stamp duty of Rs 66,500 at a rate of 7%.

What are the guideline values of other streets in Chembakkam?

Other streets in Chembakkam have varying guideline values, with rates ranging from Rs 850 to Rs 6,700 per sq.ft. For instance, Airport Colony Extension has a guideline value of Rs 6,700 per sq.ft, while Airport Exployee Colony 1st Street shares the same value of Rs 950 per sq.ft as the 2nd Street.