Guideline Value for Burma Colony

Burma Colony guideline value

The current guideline value of Burma Colony, located in Nandhambakkam village, falls under the Alandur SRO and is classified as Residential Class II Type - III. As of the 2024 revision, the guideline value is Rs 2,200 per sq.ft, effective from 1 July 2024.

How the guideline value of Burma Colony has changed

The guideline value of Burma Colony has seen several revisions over the years. The 2007 revision set the value at Rs 400 per sq.ft, which significantly increased to Rs 2,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value decreased to Rs 1,340 per sq.ft. The subsequent revisions saw an increase, with the 2023 revision at Rs 2,000 per sq.ft, and the current 2024 revision reflecting a rise to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

Between the years, the guideline value has changed as follows: from 2017 to 2023, there was a substantial increase of 49%. The jump from 2007 to 2012 was a remarkable 400%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandhambakkam

In Nandhambakkam, there are 76 streets under the Alandur SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 8,300 per sq.ft, with a median value of Rs 3,900 per sq.ft. The guideline value for Burma Colony is below this median.

• Deffence Officers Colony: Rs 6,600 per sq.ft (2024)
• Deffence Officers Colony Main Road: Rs 6,600 per sq.ft (2024)
• Dhanakotti Raja Street: Rs 3,900 per sq.ft (2024)
• Bajanai Koil Street: Rs 3,300 per sq.ft (2024)
• East Kulakkarai Street: Rs 3,900 per sq.ft (2024)
• East Mada Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Colony

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Burma Colony?

The Sub Registrar Office that covers Burma Colony is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Nandhambakkam, as it determines the minimum value at which properties can be registered. When a property is sold, the buyer must pay stamp duty and registration fees based on the higher of the guideline value or the sale price.

This ensures that the government receives appropriate revenue from property transactions. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Burma Colony?

The current guideline value of Burma Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall increase of 450% over the years.

What are the stamp duty and registration fees for property in Burma Colony?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 1,98,000, calculated based on the guideline value of Rs 22,00,000.

Which office handles property registrations for Burma Colony?

The Alandur Sub Registrar Office handles property registrations for Burma Colony, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

Are there other streets in Nandhambakkam with different guideline values?

Yes, there are several other streets in Nandhambakkam with varying guideline values, ranging from Rs 2,200 to Rs 8,300 per sq.ft, with the median being Rs 3,900 per sq.ft.