Guideline Value for Burma Colony 3rd Street

Burma Colony 3rd Street guideline value

The current guideline value of Burma Colony 3rd Street is Rs 850 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 - II.

How the guideline value of Burma Colony 3rd Street has changed

The guideline value for Burma Colony 3rd Street has seen several revisions over the years. The 2007 revision recorded a guideline value of Rs 250 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The trend reversed again, with the value jumping to Rs 800 per sq.ft in 2023, reflecting a substantial increase of 71%. The most recent revision in 2024 set the guideline value at Rs 850 per sq.ft, a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Chembakkam

In Chembakkam, there are a total of 472 streets under the Selaiyur SRO. The guideline values for these streets in 2024 range from Rs 850 to Rs 6,700 per sq.ft, with the median value being Rs 2,200 per sq.ft. The guideline value for Burma Colony 3rd Street is below this median.

• Burma Colony 4th Street: Rs 850 per sq.ft (2024)
• Burma Colony 5th Street: Rs 850 per sq.ft (2024)
• Burma Colony 2nd 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)
• Burma Colony 1st Street: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Colony 3rd 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, charged at 7%, would be Rs 59,500, while the registration fee at 2% would be Rs 17,000. Together, the total cost for stamp duty and registration would be Rs 76,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Burma Colony 3rd Street?

The Sub Registrar Office that covers Burma Colony 3rd 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chembakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory expenses in property transactions. The guideline value ensures that the transaction is recorded at a fair rate as determined by the government.

When you approach the Sub Registrar Office for registration, the guideline value will be checked against the sale price of the property. The higher of the two values will be used to calculate the applicable duties and fees, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Burma Colony 3rd Street?

The current guideline value of Burma Colony 3rd 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, showing an overall increase of 240% over the years.

What is the land classification for Burma Colony 3rd Street?

Burma Colony 3rd Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Burma Colony 3rd Street is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Burma Colony 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 at a rate of 7%.