Guideline Value for Burma Colony 1st Street

Burma Colony 1st Street guideline value

The current guideline value of Burma Colony 1st Street is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village under the Selaiyur SRO and is classified as Residential Class IV Type - II.

How the guideline value of Burma Colony 1st Street has changed

The guideline value for Burma Colony 1st Street has undergone several revisions over the years. In 2012, the value was set at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 71%, bringing it to Rs 800 per sq.ft. The latest revision in 2024 has further increased the value to Rs 850 per sq.ft, reflecting a rise of 6% from the previous year.

There are no registered figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 21%.

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 village is Rs 2,200 per sq.ft, indicating that Burma Colony 1st Street's 2024 figure is below that median.

• Burma Colony 2nd Street: Rs 850 per sq.ft (2024)
• Burma Colony 3rd Street: Rs 850 per sq.ft (2024)
• Burma Colony 4th Street: Rs 850 per sq.ft (2024)
• Burma Colony 5th Street: Rs 850 per sq.ft (2024)
• Burma Colony 6th Street: Rs 850 per sq.ft (2024)
• Burma Colony Main Road: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value amounts to Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, bringing the total charges to Rs 76,500. 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 detailed calculations.

Which Sub Registrar Office covers Burma Colony 1st Street?

The Sub Registrar Office that covers Burma Colony 1st Street is 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. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Chembakkam. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and fairness in the property registration process, as it prevents undervaluation of properties.

Frequently asked questions

What is the current guideline value of Burma Colony 1st Street?

The current guideline value of Burma Colony 1st Street is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and finally to Rs 850 per sq.ft in 2024.

What is the median guideline value in Chembakkam?

The median guideline value in Chembakkam is Rs 2,200 per sq.ft, which indicates that Burma Colony 1st Street's 2024 figure is below this median.

What are the stamp duty and registration fees for property in Burma Colony 1st Street?

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Where is the Sub Registrar Office for Burma Colony 1st Street located?

The Sub Registrar Office for Burma Colony 1st Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.