Guideline Value for Burma Colony 5th Street

Burma Colony 5th Street guideline value

The current guideline value of Burma Colony 5th 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 5th Street has changed

Over the years, the guideline value for Burma Colony 5th Street has undergone several revisions. The earliest recorded figure is from 2007, where the value was Rs 250 per sq.ft. It then increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 180%. However, in 2017, the value dropped to Rs 469 per sq.ft, a decrease of 33%. The value continued to rise to Rs 800 per sq.ft in 2023, reflecting a substantial increase of 71%. As of the 2024 revision, the current guideline value stands at Rs 850 per sq.ft, which is a 6% increase from the previous year.

The register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 240%.

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 is Rs 2,200 per sq.ft, placing the 2024 figure for Burma Colony 5th Street below this median.

• Burma Colony 4th Street: Rs 850 per sq.ft (2024)
• Burma Colony 6th Street: Rs 850 per sq.ft (2024)
• Burma Colony 3rd Street: Rs 850 per sq.ft (2024)
• Burma Colony Main Road: Rs 850 per sq.ft (2024)
• Burma Colony 2nd Street: 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 5th 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 to Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Burma Colony 5th Street?

The Sub Registrar Office that covers Burma Colony 5th 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 is a critical factor when registering property transactions in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

Buyers and sellers must be aware that the guideline value may differ from the actual sale price of the property. In such cases, the stamp duty is charged on the higher of the two values, ensuring that the registration process is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Burma Colony 5th Street?

The current guideline value of Burma Colony 5th 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, reflecting an overall increase of 240% over the years.

What is the registration office for Burma Colony 5th Street?

The Selaiyur Sub Registrar Office covers Burma Colony 5th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Burma Colony 5th Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 8,50,000 would incur a stamp duty of Rs 59,500.

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

Other streets in Chembakkam under the Selaiyur SRO, such as Burma Colony 1st, 2nd, 3rd, 4th, and 6th Streets, as well as Burma Colony Main Road, all have a guideline value of Rs 850 per sq.ft for 2024.