Guideline Value for Commissioner Colony 3rd Street 1st Cross Street

Commissioner Colony 3rd Street 1st Cross Street guideline value

The current guideline value of Commissioner Colony 3rd 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, classified as Commercial Class I Type - I.

How the guideline value of Commissioner Colony 3rd Street 1st Cross Street has changed

In the 2017 revision, the guideline value was set at Rs 1,340 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, 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 have 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 3rd Street 1st Cross Street is above this median.

• Commissioner Colony 3rd Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 4th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 2nd Street 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 5th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 1st Street 4th Cross Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony 6th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Commissioner Colony 3rd Street 1st Cross Street

For a 1,000 sq.ft plot at the current rate, the 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, totaling Rs 1,98,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Commissioner Colony 3rd Street 1st Cross Street?

The Commissioner Colony 3rd Street 1st Cross Street is covered by 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 information.

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

The guideline value is an essential factor when registering property transactions in Pozhichalur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in property dealings.

When buyers and sellers agree on a sale price, the registration office will charge stamp duty and registration fees based on the higher value between the guideline value and the agreed sale price. This process helps maintain uniformity in property valuations across the region.

Frequently asked questions

What is the current guideline value of Commissioner Colony 3rd Street 1st Cross Street?

The current guideline value of Commissioner Colony 3rd 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 2,000 per sq.ft in 2023, and then to Rs 2,200 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

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

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. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for this area?

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

What is the land classification for this street?

Commissioner Colony 3rd Street 1st Cross Street is classified as Commercial Class I Type - I. This classification is important for understanding the potential uses of the property in this area.