Guideline Value for BURMA COLONY

Burma Colony guideline value

The current guideline value of Burma Colony, located in Enjambakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Burma Colony has changed

The guideline value for Burma Colony has seen several revisions over the years. In 2003, the guideline value was Rs 233 per sq.ft, which increased to Rs 750 per sq.ft in 2007, marking a significant rise of 222%. The value then jumped to Rs 1,500 per sq.ft in 2012, a 100% increase from the previous revision. However, it decreased to Rs 1,005 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, which was then raised to Rs 1,700 per sq.ft in 2024, a 13% increase.

Overall, from 2003 to 2024, the guideline value has increased by 630%. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that Burma Colony's current figure of Rs 1,700 per sq.ft is below this median.

• Brindavan Road: Rs 1,700 per sq.ft (2024)
• Bismillah Nagar 5th Street: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 4th CROSS STREET: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 3rd CROSS STREET: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 2nd CROSS STREET: Rs 2,200 per sq.ft (2024)
• BISMILLAH NAGAR 1st CROSS STREET: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Burma Colony?

The Sub Registrar Office that covers Burma Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value or the sale price is considered, whichever is higher, to calculate the applicable duties and fees. This ensures that the registration process is aligned with the prevailing market conditions as reflected in the guideline values.

Frequently asked questions

What is the current guideline value of Burma Colony?

The current guideline value of Burma Colony is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 233 per sq.ft in 2003 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 630% over the years.

What is the stamp duty rate in Burma Colony?

The stamp duty rate in Burma Colony is 7%, which is calculated based on the higher of the guideline value or the sale price.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the median guideline value in Enjambakkam?

The median guideline value in Enjambakkam is Rs 2,200 per sq.ft, with Burma Colony's current value of Rs 1,700 per sq.ft being below this median.