Guideline Value for CHENNAI HARBOUR OFFICERS COLONY 1 TO 4 STREETS

Chennai Harbour Officers Colony 1 To 4 Streets guideline value

The current guideline value for Chennai Harbour Officers Colony 1 To 4 Streets is Rs 1,940 per sq.ft, effective from 1 July 2024. This area is located in Thirusulam village and falls under the Pallavaram SRO. The land classification for this street is Residential Class II Type - I.

How the guideline value of Chennai Harbour Officers Colony 1 To 4 Streets has changed

In the 2012 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure remained unchanged in the 2017 revision, where it was revised down to Rs 1,206 per sq.ft. The value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, and then rose again to Rs 1,940 per sq.ft in the 2024 revision, marking an 8% increase from the previous year. The register has no figure for this street in 2002, 2003, or 2007.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,080 to Rs 2,750 per sq.ft. The median guideline value for these streets is Rs 1,940 per sq.ft, which is equal to the current figure for Chennai Harbour Officers Colony 1 To 4 Streets.

• Dharga Road: Rs 1,940 per sq.ft (2024)
• Easwaran Koil Street: Rs 1,100 per sq.ft (2024)
• Ellupai Thoppu Street: Rs 2,200 per sq.ft (2024)
• Ellupai Thoppu Street 1 To 4 Streets: Rs 2,200 per sq.ft (2024)
• Erikarai Street: Rs 1,940 per sq.ft (2024)
• Bajani Koil Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Harbour Officers Colony 1 To 4 Streets

For a 1,000 sq.ft plot at the current rate of Rs 1,940 per sq.ft, the guideline value amounts to Rs 19,40,000. The stamp duty at 7% would be Rs 1,35,800, and the registration fee at 2% would be Rs 38,800, bringing the total to Rs 1,74,600. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chennai Harbour Officers Colony 1 To 4 Streets?

The Chennai Harbour Officers Colony 1 To 4 Streets is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions in Thirusulam. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded accurately in the official register.

When registering a property, the stamp duty and registration fees will be calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Chennai Harbour Officers Colony 1 To 4 Streets?

The current guideline value for Chennai Harbour Officers Colony 1 To 4 Streets is Rs 1,940 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 1,800 per sq.ft in 2012, Rs 1,206 per sq.ft in 2017, Rs 1,800 per sq.ft in 2023, and currently Rs 1,940 per sq.ft in 2024.

What is the land classification for Chennai Harbour Officers Colony 1 To 4 Streets?

The land classification for Chennai Harbour Officers Colony 1 To 4 Streets is Residential Class II Type - I.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Chennai Harbour Officers Colony 1 To 4 Streets?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 19,40,000, the stamp duty at 7% would be Rs 1,35,800.