Guideline Value for Commissioner Colony 6th Street

Commissioner Colony 6th Street guideline value

The current guideline value of Commissioner Colony 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Pozhichalur village under the Pammal SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Commissioner Colony 6th Street has changed

The guideline value for Commissioner Colony 6th Street has undergone several revisions over the years. The oldest recorded revision is from 2017, where the value was Rs 1,340 per sq.ft. This figure increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 sets the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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. The median value for these streets is Rs 1,320 per sq.ft, indicating that Commissioner Colony 6th Street's 2024 guideline value is above this median.

• Commissioner Colony 5th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony Main Road (2): Rs 2,200 per sq.ft (2024)
• Commissioner Colony 4th Street: Rs 2,200 per sq.ft (2024)
• Commissioner Colony Main Road (3): Rs 2,200 per sq.ft (2024)
• Commissioner Colony 3rd 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 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, these fees would total 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.

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

Which Sub Registrar Office covers Commissioner Colony 6th Street?

The Commissioner Colony 6th 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 details.

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

The guideline value is a crucial factor in property transactions in Pozhichalur. It serves as the benchmark for determining the stamp duty and registration fees payable at the time of property registration. Buyers and sellers should be aware that the guideline value may differ from the sale price, and the higher of the two will be used to calculate the applicable duties.

When registering a property, it is essential to reference the current guideline value to ensure compliance with local regulations. This value is regularly updated, reflecting changes in the real estate market and local development.

Frequently asked questions

What is the current guideline value of Commissioner Colony 6th Street?

The current guideline value of Commissioner Colony 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over the years.

What is the land classification for Commissioner Colony 6th Street?

Commissioner Colony 6th Street falls under the Commercial Class I Type - I land classification, which is significant for determining its usage and potential development.

Where can I find the Pammal Sub Registrar Office?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Pozhichalur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.