Guideline Value for Fisherman Colony 1Main Street

Fisherman Colony 1Main Street guideline value

The current guideline value for Fisherman Colony 1Main Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Fisherman Colony 1Main Street has changed

The guideline value for Fisherman Colony 1Main Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012. However, there was a decrease to Rs 804 per sq.ft in 2017. The most recent revision in 2024 shows a significant increase to Rs 1,300 per sq.ft. It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street.

From 2017 to 2024, the guideline value increased by 62%. The change from 2012 to 2017 was a decrease of 33%, while the value doubled from 2007 to 2012, marking a 100% increase. Overall, from 2007 to 2024, the guideline value has risen by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Fisherman Colony 1Main Street's 2024 figure below that median.

• Fisherman Colony 1st cross Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 2nd Main Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 3 rd Cross Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 3rd Main Street: Rs 1,300 per sq.ft (2024)
• Fisherman Colony 4th cross Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony 1Main Street

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Fisherman Colony 1Main Street?

The Fisherman Colony 1Main Street falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property in the area.

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

Frequently asked questions

What is the current guideline value for Fisherman Colony 1Main Street?

The current guideline value for Fisherman Colony 1Main Street is Rs 1,300 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 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

Is there a guideline value for the year 2023?

No, the guideline value register has no figure for Fisherman Colony 1Main Street in the year 2023.

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

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,17,000.

Which office handles registrations for Fisherman Colony 1Main Street?

The Royapuram Sub Registrar Office at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021 handles registrations for Fisherman Colony 1Main Street.