Guideline Value for Fisherman Colony 1st cross Street

Fisherman Colony 1st cross Street guideline value

The current guideline value of Fisherman Colony 1st cross Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO, classified as Residential Class II Type - I.

How the guideline value of Fisherman Colony 1st cross Street has changed

The guideline value for Fisherman Colony 1st cross Street has seen 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, it decreased to Rs 804 per sq.ft in 2017. The most recent revision in 2024 has raised the guideline value to Rs 1,300 per sq.ft. The register has no figures for the years 2002, 2003, and 2023.

From 2017 to 2024, there was an increase of 62%. The value increased by 100% from 2007 to 2012, but then decreased by 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has risen by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 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 is Rs 1,600 per sq.ft, which means that the 2024 figure for Fisherman Colony 1st cross Street is below this median.

• Fisherman Colony 1Main 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 1st cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Fisherman Colony 1st cross Street?

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

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

The guideline value is a critical factor during property registration in Tondaiarpet. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is sold or purchased.

When buyers and sellers agree on a sale price, the stamp duty will be calculated based on the higher amount between the sale price and the guideline value. This ensures that the government receives the appropriate taxes based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Fisherman Colony 1st cross Street?

The current guideline value of Fisherman Colony 1st cross 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.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Fisherman Colony 1st cross Street?

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

Are there any years without guideline value figures for this street?

Yes, the register has no figures for the years 2002, 2003, and 2023 for Fisherman Colony 1st cross Street.