Guideline Value for Burma Tamizhar Colony First Street

Burma Tamizhar Colony First Street guideline value

The current guideline value of Burma Tamizhar Colony First Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village and falls under the Alandur SRO. The land classification for this area is Residential Class II Type - III.

How the guideline value of Burma Tamizhar Colony First Street has changed

The guideline value for Burma Tamizhar Colony First Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012, marking a rise of 186%. However, in 2017, the value dropped to Rs 1,340 per sq.ft, a decrease of 33%. The value then increased to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, reflecting a 10% rise.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 214%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Thalakanancherry

In Thalakanancherry village, there are 318 streets under the Alandur SRO, with guideline values ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, indicating that the guideline value of Rs 2,200 per sq.ft for Burma Tamizhar Colony First Street is below this median.

• Burma Tamizhar Colony 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Burma Tamizhar Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Burma Tamizhar Colony 2nd Street: Rs 2,200 per sq.ft (2024)
• Bhuvaneshwari Nagar: Rs 2,200 per sq.ft (2024)
• Bharathiyar Street: Rs 2,800 per sq.ft (2024)
• Civil Aviyesation Colony: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Burma Tamizhar Colony First Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, leading to a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Burma Tamizhar Colony First Street?

The Sub Registrar Office that covers Burma Tamizhar Colony First Street 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thalakanancherry. It is used to determine the stamp duty and registration fees payable at the time of property registration, ensuring that the transaction is recorded accurately in the public registry.

When buying or selling property, the guideline value is considered to ensure that the transaction reflects the fair value of the property. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Burma Tamizhar Colony First Street?

The current guideline value of Burma Tamizhar Colony First Street 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 significantly from Rs 700 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 214% over the years.

What is the land classification for Burma Tamizhar Colony First Street?

The land classification for Burma Tamizhar Colony First Street is Residential Class II Type - III, indicating its suitability for residential purposes.

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

The Alandur Sub Registrar Office covers Burma Tamizhar Colony First Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is 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 22,00,000 would incur a stamp duty of Rs 1,54,000 at a rate of 7%.