Guideline Value for Doctors Colony

Doctors Colony guideline value

The current guideline value of Doctors Colony in Thiruneermalai village, under the Pammal SRO, is Rs 2,420 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Doctors Colony has changed

The guideline value for Doctors Colony has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 1,474 per sq.ft. This figure increased significantly to Rs 2,200 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw the guideline value rise to Rs 2,420 per sq.ft, which is 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 there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, which is the same as the current value for Doctors Colony.

• Dr.Ambedkar Street: Rs 2,200 per sq.ft (2024)
• Dr.Solman Colony: Rs 2,420 per sq.ft (2024)
• Dr.Soundarammal Street: Rs 2,420 per sq.ft (2024)
• Duraiamman Koil Street: Rs 2,200 per sq.ft (2024)
• Durgai Amman Street: Rs 2,200 per sq.ft (2024)
• Durga Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Doctors Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, making the total cost for these fees Rs 2,17,800. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Doctors Colony?

The Sub Registrar Office that covers Doctors Colony 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Thiruneermalai. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Doctors Colony?

The current guideline value of Doctors Colony is Rs 2,420 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,474 per sq.ft to Rs 2,420 per sq.ft, representing an overall increase of 64% over the years.

What are the stamp duty and registration fees for a property in Doctors Colony?

For a property valued at Rs 24,20,000, the stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, totaling Rs 2,17,800 for a 1,000 sq.ft plot.

Which office handles registrations for Doctors Colony?

The Pammal Sub Registrar Office handles registrations for Doctors Colony, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

Are there other streets with similar guideline values in Thiruneermalai?

Yes, other streets in Thiruneermalai have similar guideline values. For instance, Dr.Solman Colony, Dr.Soundarammal Street, and Durga Nagar also have a guideline value of Rs 2,420 per sq.ft in 2024.