Guideline Value for Burma Colony 6th Street

Burma Colony 6th Street guideline value

The current guideline value of Burma Colony 6th 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 6th Street has changed

The guideline value for Burma Colony 6th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, with a value of Rs 250 per sq.ft. This increased to Rs 700 per sq.ft in 2012, marking a significant rise of 180%. However, the value then decreased to Rs 469 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 800 per sq.ft, which reflects a substantial increase of 71% from the 2017 figure. The most recent revision in 2024 has further increased the guideline value to Rs 850 per sq.ft, a rise of 6% from 2023.

It is important to note that there are no figures available for the years 2002 and 2003 in the register 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 a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, indicating that the guideline value of Rs 850 per sq.ft for Burma Colony 6th Street is below this median.

• Burma Colony 5th Street: Rs 850 per sq.ft (2024)
• Burma Colony Main Road: Rs 850 per sq.ft (2024)
• Burma Colony 4th Street: Rs 850 per sq.ft (2024)
• Burma Colony 3rd Street: 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 6th 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 cost of duty and fees 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 more details.

Which Sub Registrar Office covers Burma Colony 6th Street?

The Sub Registrar Office that covers Burma Colony 6th 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 crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Burma Colony 6th Street?

The current guideline value of Burma Colony 6th 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 6th Street?

Burma Colony 6th Street is classified as Residential Class IV Type - II.

Where can I find the Sub Registrar Office for Chembakkam?

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

How is stamp duty calculated for properties in Burma Colony 6th Street?

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