Guideline Value for Burma Colony 2nd Street

Burma Colony 2nd Street guideline value

The current guideline value of Burma Colony 2nd 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 2nd Street has changed

The guideline value for Burma Colony 2nd Street has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2012, but then dropped to Rs 469 per sq.ft in 2017. Following this, the value surged to Rs 800 per sq.ft in 2023, and currently stands at Rs 850 per sq.ft as per the 2024 revision. The changes between these revisions include a 180% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 71% increase from 2017 to 2023, and a 6% increase from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Burma Colony 2nd Street is below this median.

• Burma Colony 1st 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 2nd 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, making the total cost for these fees Rs 76,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Burma Colony 2nd Street?

The Sub Registrar Office covering Burma Colony 2nd 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 additional information.

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

The guideline value is a crucial factor during 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 when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

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

The current guideline value of Burma Colony 2nd 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 250 per sq.ft in 2007 to Rs 850 per sq.ft in 2024, with various increases and decreases in between, including a notable increase of 71% from 2017 to 2023.

What are the other streets in Chembakkam with the same guideline value?

Other streets in Chembakkam with a guideline value of Rs 850 per sq.ft as of 2024 include Burma Colony 1st Street, 3rd Street, 4th Street, 5th Street, 6th Street, and Burma Colony Main Road.

What is the registration fee for property in Burma Colony 2nd Street?

The registration fee for property in Burma Colony 2nd Street is calculated based on the guideline value. For a property valued at Rs 8,50,000, the registration fee would be Rs 17,000 at 2%.

Where can I find the Sub Registrar Office for Burma Colony 2nd Street?

The Sub Registrar Office for Burma Colony 2nd Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.