Guideline Value for Doctors Colony

Doctors Colony guideline value

The current guideline value of Doctors Colony, located in Tambaram village under the Tambaram Joint 1 SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II 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 2007 revision, the value was set at Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2012 revision, but then decreased to Rs 804 per sq.ft in 2017. The 2023 revision saw a significant rise to Rs 1,200 per sq.ft, and the most recent revision in 2024 has further increased it to Rs 1,320 per sq.ft.

Between the revisions, the changes were as follows: from 2007 to 2012, there was a 100% increase; however, from 2012 to 2017, the value decreased by 33%. The 2017 to 2023 period saw a substantial increase of 49%, and the latest change from 2023 to 2024 represents a 10% rise. The overall change from 2007 to 2024 is an increase of 120%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 8,250 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, placing Doctors Colony's 2024 figure below that median.

• Dharma Thottam: Rs 2,200 per sq.ft (2024)
• Duraisamy Street: Rs 5,500 per sq.ft (2024)
• Duraiswamy Reddy St: Rs 6,600 per sq.ft (2024)
• Dhanabal Street: Rs 2,200 per sq.ft (2024)
• Devasahayam Street: Rs 880 per sq.ft (2024)
• Devasahayam Nagar: Rs 880 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 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Doctors Colony?

The Sub Registrar Office that covers Doctors Colony is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It determines the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted transparently and in accordance with government regulations.

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

Frequently asked questions

What is the current guideline value of Doctors Colony?

The current guideline value of Doctors Colony is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,320 per sq.ft in 2024, showing an overall increase of 120% over this period.

What is the classification of land in Doctors Colony?

Doctors Colony is classified as Residential Class II Type - I, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for Doctors Colony?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated in Tambaram?

Stamp duty in Tambaram is calculated based on the higher of the guideline value or the sale price of the property. The current rate is 7% for stamp duty and 2% for the registration fee.