Guideline Value for Fisherman Colony 3 rd Cross Street

Fisherman Colony 3 rd Cross Street guideline value

The current guideline value for Fisherman Colony 3 rd 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, and falls under the Residential Class II Type - I land classification.

How the guideline value of Fisherman Colony 3 rd Cross Street has changed

Since the 2007 revision, the guideline value for Fisherman Colony 3 rd Cross Street has increased from Rs 600 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 117%. The revisions over the years are as follows: in 2012, the value was Rs 1,200 per sq.ft, which was a 100% increase from Rs 600 in 2007. However, the value dropped to Rs 804 per sq.ft in 2017, representing a 33% decrease.

From 2017 to 2024, the value saw a significant increase of 62%, rising from Rs 804 per sq.ft to the current 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.

Guideline values in Tondaiarpet

In Tondaiarpet, there are a total of 1,384 streets under the Royapuram SRO, with the 2024 guideline values 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, which means that the guideline value for Fisherman Colony 3 rd Cross Street is below this median.

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

Stamp duty and registration fee for property in Fisherman Colony 3 rd 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, making the total cost for these fees Rs 1,17,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Fisherman Colony 3 rd Cross Street?

The Fisherman Colony 3 rd Cross Street falls under the jurisdiction of the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

When buying or selling property in Tondaiarpet, the guideline value is used as a benchmark for determining the stamp duty and registration fees. The fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the correct amount is paid during the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it directly affects the overall cost of property transactions. Understanding these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value for Fisherman Colony 3 rd Cross Street?

The current guideline value for Fisherman Colony 3 rd 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, with various revisions in between. Notably, the value decreased from Rs 1,200 in 2012 to Rs 804 in 2017 before increasing again to the current rate.

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. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Fisherman Colony 3 rd Cross Street?

The Royapuram Sub Registrar Office handles registrations for Fisherman Colony 3 rd Cross Street. It is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

Are there other streets with the same guideline value in Tondaiarpet?

Yes, several other streets in Tondaiarpet have the same guideline value of Rs 1,300 per sq.ft in 2024. These include Fisherman Colony 2nd Main Street, Fisherman Colony 3rd Main Street, Fisherman Colony 2nd Cross Street, Fisherman Colony 4th Cross Street, Fisherman Colony 1st Cross Street, and Fisherman Colony 1Main Street.