Guideline Value for Fisherman Colony 3rd Cross Street

Fisherman Colony 3rd Cross Street guideline value

The current guideline value for Fisherman Colony 3rd Cross Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Mamallapuram village under the Thirukazhukundram SRO and is classified as Residential Class V Type - I.

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

The guideline value for Fisherman Colony 3rd Cross Street has undergone several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was then reduced to Rs 335 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 500 per sq.ft, and the most recent 2024 revision has raised it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

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 for Fisherman Colony 3rd Cross Street is below this median.

• Fisherman Colony 2nd Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 4th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 1st Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 5th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony: Rs 825 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 3rd 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, while the registration fee at 2% would be Rs 11,000, leading to a total cost of Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Fisherman Colony 3rd 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 details.

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

The guideline value is a critical factor in property transactions in Mamallapuram, as it determines the minimum price at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it influences the stamp duty and registration fees applicable during the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the stamp duty, which is a mandatory fee imposed by the government. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

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

The current guideline value of Fisherman Colony 3rd 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 are the other streets in Mamallapuram with the same guideline value?

Other streets in Mamallapuram with the same guideline value of Rs 550 per sq.ft for 2024 include Fisherman Colony 1st, 2nd, 4th, 5th, and 6th Cross Streets.

What are the stamp duty and registration fees for properties in Fisherman Colony 3rd Cross Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 5,50,000. The stamp duty at 7% is Rs 38,500, and the registration fee at 2% is Rs 11,000, totaling Rs 49,500.

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

The Thirukazhukundram Sub Registrar Office covers Fisherman Colony 3rd Cross Street, located at Thiruchengode - 637 211, Chengalpattu registration zone.