Guideline Value for Burma Colony Main Road

Burma Colony Main Road guideline value

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

How the guideline value of Burma Colony Main Road has changed

The guideline value for Burma Colony Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. However, the value saw a significant increase in the subsequent revisions, rising to Rs 800 per sq.ft in 2023, and further increasing to Rs 850 per sq.ft in the 2024 revision, reflecting a change of +6% from the previous year.

From 2017 to 2023, there was a notable increase of +71%, while the value decreased by -33% from 2012 to 2017. Overall, comparing the 2012 and 2024 revisions, there has been an increase of +21%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 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 Main Road is below this median.

• Burma Colony 1st Street: Rs 850 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Burma Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 850 per sq.ft, the total guideline value would be Rs 8,50,000. The stamp duty at 7% would amount to 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 or the sale price.

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

Which Sub Registrar Office covers Burma Colony Main Road?

The Sub Registrar Office that covers Burma Colony Main Road 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 when buying or selling property in Chembakkam. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the guideline value may differ from the actual sale price of the property.

During registration, the authorities will assess the property based on the guideline value, ensuring that the appropriate fees are collected. It is important for buyers and sellers to be informed about these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Burma Colony Main Road?

The current guideline value of Burma Colony Main Road 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 land classification for Burma Colony Main Road?

Burma Colony Main Road 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 Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on 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 at 7%.