Guideline Value for Commissioner Colony 1st Street (3)

Commissioner Colony 1st Street (3) guideline value

The current guideline value for Commissioner Colony 1st Street (3) is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village, under the Pammal SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Commissioner Colony 1st Street (3) has changed

The guideline value for Commissioner Colony 1st Street (3) has seen significant changes over the years. The oldest revision available is from 2017, where the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 shows a further increase to Rs 2,200 per sq.ft, which is a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Pozhichalur

In Pozhichalur village, there are 299 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,500 per sq.ft. The median guideline value is Rs 1,320 per sq.ft, placing the 2024 figure for Commissioner Colony 1st Street (3) above that median.

• Commissioner Colony 1st Street 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 1st Street 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 1st Street (2): Rs 2,200 per sq.ft (2024)
• Commissioner Colony 1st Street 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 2nd Street 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 3rd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Commissioner Colony 1st Street (3)

For a property measuring 1,000 sq.ft at the current guideline value, 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, bringing the total to 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 Commissioner Colony 1st Street (3)?

The Sub Registrar Office that covers Commissioner Colony 1st Street (3) is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Commissioner Colony 1st Street (3)?

The current guideline value for Commissioner Colony 1st Street (3) 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 increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over these years.

What are the stamp duty and registration fees for this property?

For a property measuring 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office handles the registration for this area?

The Pammal Sub Registrar Office handles the registration for Commissioner Colony 1st Street (3), located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Commissioner Colony 1st Street (3)?

The land classification for Commissioner Colony 1st Street (3) is Commercial Class I Type - I.