Guideline Value for Fisherman Colony 3rd Main Street

Fisherman Colony 3rd Main Street guideline value

The current guideline value of Fisherman Colony 3rd Main 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 is classified as Residential Class II Type - I.

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

The guideline value for Fisherman Colony 3rd Main Street has undergone several revisions over the years. The 2007 revision set the rate at 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 latest revision in 2024 has raised the guideline value to Rs 1,300 per sq.ft, marking a 62% increase from the 2017 figure. Overall, from 2007 to 2024, the guideline value has increased by 117%.

There are no figures available for the years 2023, 2003, and 2002 for this street. The changes between the revisions indicate fluctuations, with the highest increase occurring between 2007 and 2012, where the value doubled from Rs 600 to Rs 1,200 per sq.ft.

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 guideline value for these streets is Rs 1,600 per sq.ft, placing Fisherman Colony 3rd Main Street's 2024 figure below this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total 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 fees to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value and 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 3rd Main Street?

The Fisherman Colony 3rd Main 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

The guideline value is an essential factor in the registration process when buying or selling property in Tondaiarpet. It serves as a reference point for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of Fisherman Colony 3rd Main 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, showing an overall increase of 117% over the years.

What is the land classification of Fisherman Colony 3rd Main Street?

Fisherman Colony 3rd Main Street is classified as Residential Class II Type - I.

Where can I find the Royapuram Sub Registrar Office?

The Royapuram Sub Registrar Office is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Fisherman Colony 3rd Main Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 at a rate of 7%.