Guideline Value for EX-SERVICEMAN COLONY 2ND STREET

Ex-Serviceman Colony 2nd Street guideline value

The current guideline value of Ex-Serviceman Colony 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village, under the Chennai South Joint I SRO, and falls under the Residential Class IV Type - I land classification.

How the guideline value of Ex-Serviceman Colony 2nd Street has changed

Looking at the historical revisions, the guideline value for Ex-Serviceman Colony 2nd Street was Rs 1,500 per sq.ft in 2023, which increased to Rs 1,650 per sq.ft in the 2024 revision, marking a change of +10%. Prior to this, in 2017, the value was Rs 1,005 per sq.ft, indicating a significant increase of +49% over the six-year period leading to 2023. The 2012 revision recorded a value of Rs 1,500 per sq.ft, which was a decrease of -33% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. It is important to note that there are no figures recorded for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Ex-Serviceman Colony 2nd Street's 2024 figure below that median.

• Ex-Serviceman Colony 3rd Street: Rs 1,650 per sq.ft (2024)
• Ex-Serviceman Colony 4th Street: Rs 1,650 per sq.ft (2024)
• Ex.Servicemen Colony 1st Street: Rs 1,650 per sq.ft (2024)
• Ex-Servicemen Colony Anna Salai: Rs 1,650 per sq.ft (2024)
• Ex.Servicemen Colony Cross Street: Rs 1,650 per sq.ft (2024)
• Erikarai Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Ex-Serviceman Colony 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. 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 more detailed calculations.

Which Sub Registrar Office covers Ex-Serviceman Colony 2nd Street?

The Ex-Serviceman Colony 2nd Street falls under the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Jelandianpettai, as it determines the minimum value at which properties must be registered. This value is used to calculate stamp duty and registration fees, which are mandatory for legal property transfers.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Ex-Serviceman Colony 2nd Street?

The current guideline value of Ex-Serviceman Colony 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various changes: it was Rs 1,500 in 2012, decreased to Rs 1,005 in 2017, increased to Rs 1,500 in 2023, and finally reached Rs 1,650 in 2024.

What is the registration office for Ex-Serviceman Colony 2nd Street?

The registration office for Ex-Serviceman Colony 2nd Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

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

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For a 1,000 sq.ft property, the total fees would amount to Rs 1,48,500.

What is the land classification for Ex-Serviceman Colony 2nd Street?

Ex-Serviceman Colony 2nd Street is classified under Residential Class IV Type - I according to the guideline value register.