Guideline Value for Ex-Serviceman Colony 1st To 3rd Street

Ex-Serviceman Colony 1st To 3rd Street guideline value

The current guideline value of Ex-Serviceman Colony 1st To 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Parangimalai village under the Chennai South Joint II SRO and falls under the Residential Class II Type - I land classification.

How the guideline value of Ex-Serviceman Colony 1st To 3rd Street has changed

The guideline value for Ex-Serviceman Colony 1st To 3rd Street has undergone several revisions over the years. In 2003, the guideline value was Rs 315 per sq.ft. This figure increased significantly to Rs 800 per sq.ft in 2007, marking a rise of 154%. The value then saw a dramatic increase to Rs 3,500 per sq.ft in 2012, which represented a rise of 338%. However, it decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The value then rose again to Rs 3,500 per sq.ft in 2023, and finally reached Rs 3,850 per sq.ft in 2024, reflecting an increase of 10%.

In summary, from the 2003 revision to the 2024 revision, the overall increase in the guideline value is a substantial 1,122%. It is important to note that the register has no figure for this street for the year 2002.

Guideline values in Parangimalai

In Parangimalai, there are 233 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, which is equal to the current guideline value of Ex-Serviceman Colony 1st To 3rd Street.

• European Lane: Rs 3,850 per sq.ft (2024)
• Fisherman Street: Rs 2,750 per sq.ft (2024)
• Eswaran Koil Street: Rs 2,750 per sq.ft (2024)
• Gandhi Market: Rs 4,400 per sq.ft (2024)
• Gandhi Nagar: Rs 4,400 per sq.ft (2024)
• Ekambara Dabedhar Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Ex-Serviceman Colony 1st To 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total cost for these fees Rs 3,46,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ex-Serviceman Colony 1st To 3rd Street?

The Ex-Serviceman Colony 1st To 3rd Street falls under the jurisdiction of the Chennai South Joint II 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 Parangimalai

The guideline value is a crucial factor in property transactions in Parangimalai, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs involved in the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. Understanding the guideline value helps in making informed decisions when dealing with real estate in the area.

Frequently asked questions

What is the current guideline value of Ex-Serviceman Colony 1st To 3rd Street?

The current guideline value of Ex-Serviceman Colony 1st To 3rd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, with an overall increase of 1,122% from Rs 315 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024.

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

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for this street?

The registration for Ex-Serviceman Colony 1st To 3rd Street is handled by the Chennai South Joint II Sub Registrar Office located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the land classification for Ex-Serviceman Colony 1st To 3rd Street?

The land classification for Ex-Serviceman Colony 1st To 3rd Street is Residential Class II Type - I.