Guideline Value for CENTRAL EXCISE CUSTOMS COLONY

Central Excise Customs Colony guideline value

The current guideline value of Central Excise Customs Colony is Rs 6,100 per sq.ft, effective from 1 July 2024. This property is located in Okkiyamthuraipakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - II.

How the guideline value of Central Excise Customs Colony has changed

The guideline value for Central Excise Customs Colony has seen significant changes over the years. In 2003, the guideline value was Rs 266 per sq.ft. This figure increased dramatically to Rs 1,334 per sq.ft in 2007, marking a change of +402%. The value then rose to Rs 5,500 per sq.ft in 2012, reflecting an increase of +312%. However, between 2012 and 2017, the value decreased to Rs 3,685 per sq.ft, a change of -33%. Following this, the value increased to Rs 5,500 per sq.ft in 2023, a rise of +49%, and finally, it reached Rs 6,100 per sq.ft in 2024, showing an increase of +11%.

The register has no figure for the year 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +2,193%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing the 2024 figure for Central Excise Customs Colony above this median.

• C.B.S.Nagar: Rs 2,800 per sq.ft (2024)
• Chandrasekaran Avenue: Rs 4,400 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 4,400 per sq.ft (2024)
• Chandrasekaran Nagar Extension: Rs 4,400 per sq.ft (2024)
• Chandrasekar Avenue, 1, 2 Main Road: Rs 4,400 per sq.ft (2024)
• CHANDRASEKAR AVENUE 1st, STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Central Excise Customs Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty at 7% would amount to Rs 4,27,000, and the registration fee at 2% would be Rs 1,22,000, bringing the total to Rs 5,49,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Central Excise Customs Colony?

The Central Excise Customs Colony falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Okkiyamthuraipakkam. It serves as the basis for calculating stamp duty and registration fees, ensuring that these costs are aligned with the current property valuation. Buyers and sellers must be aware of the guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value helps determine the minimum value at which a property can be sold. This ensures that transactions reflect the prevailing market conditions and are subject to the appropriate taxation based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Central Excise Customs Colony?

The current guideline value of Central Excise Customs Colony is Rs 6,100 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 266 per sq.ft in 2003 to Rs 6,100 per sq.ft in 2024, reflecting an overall increase of +2,193% over the years.

What is the land classification for Central Excise Customs Colony?

Central Excise Customs Colony is classified as Residential Special Type - II, which indicates its zoning for residential purposes.

What are the stamp duty rates for properties in Central Excise Customs Colony?

The stamp duty rate for properties in Central Excise Customs Colony is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Central Excise Customs Colony?

The Sub Registrar Office covering Central Excise Customs Colony is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.