Guideline Value for Commissioner Colony 2nd Street 1st Cross Street

Commissioner Colony 2nd Street 1st Cross Street guideline value

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

How the guideline value of Commissioner Colony 2nd Street 1st Cross Street has changed

The guideline value for Commissioner Colony 2nd Street 1st Cross Street has undergone several revisions over the years. The oldest revision available is from 2017, where the guideline value was Rs 1,340 per sq.ft. This value increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, reflecting a further increase of 10% from the previous year.

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

Guideline values in Pozhichalur

In Pozhichalur, 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, with a median value of Rs 1,320 per sq.ft. The guideline value for Commissioner Colony 2nd Street 1st Cross Street is above this median.

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

Stamp duty and registration fee for property in Commissioner Colony 2nd Street 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total 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, resulting in a total of Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Commissioner Colony 2nd Street 1st Cross Street?

The Sub Registrar Office that covers Commissioner Colony 2nd Street 1st Cross Street is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, 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 in Pozhichalur. It serves as the benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that all transactions are registered fairly and transparently.

Frequently asked questions

What is the current guideline value for Commissioner Colony 2nd Street 1st Cross Street?

The current guideline value for Commissioner Colony 2nd Street 1st Cross 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 from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registrations in Pozhichalur?

The Pammal Sub Registrar Office is responsible for handling property registrations in Pozhichalur, located on Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

How is the guideline value determined?

The guideline value is determined by the Registration Department's guideline value register and is revised periodically based on various factors. It serves as a reference point for calculating stamp duty and registration fees during property transactions.