Guideline Value for Fisherman Colony 2nd Cross Street

Fisherman Colony 2nd Cross Street guideline value

The current guideline value of Fisherman Colony 2nd Cross Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village under the Thirukazhukundram SRO, classified as Residential Class V Type - I.

How the guideline value of Fisherman Colony 2nd Cross Street has changed

Over the years, the guideline value of Fisherman Colony 2nd Cross Street has seen several revisions. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft, reflecting a drop of 33%. In 2023, the value increased to Rs 500 per sq.ft, and it further rose to Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased significantly by 49%. Overall, comparing the 2012 to the 2024 revisions, the guideline value has increased by 10%. It is important to note that there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Mamallapuram

In Mamallapuram, there are 133 streets under the Thirukazhukundram SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft, with a median value of Rs 935 per sq.ft. The guideline value of Fisherman Colony 2nd Cross Street is below this median.

• Fisherman Colony 1st Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 3rd Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony: Rs 825 per sq.ft (2024)
• Fisherman Colony 4th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 5th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 6th Cross Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony 2nd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Fisherman Colony 2nd Cross Street?

The Fisherman Colony 2nd Cross Street falls under the jurisdiction of the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mamallapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Fisherman Colony 2nd Cross Street?

The current guideline value of Fisherman Colony 2nd Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Fisherman Colony 2nd Cross Street?

Fisherman Colony 2nd Cross Street is classified as Residential Class V Type - I.

Where can I find the registration office for Fisherman Colony 2nd Cross Street?

The registration office for Fisherman Colony 2nd Cross Street is the Thirukazhukundram Sub Registrar Office, located at Thiruchengode - 637 211, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Fisherman Colony 2nd Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 5,50,000, leading to a stamp duty of Rs 38,500.