Guideline Value for Fisherman Colony Road

Fisherman Colony Road guideline value

The current guideline value of Fisherman Colony Road is Rs 1,210 per sq.ft, effective from 1 July 2024. This road is located in Mamallapuram village under the Thirukazhukundram SRO and is classified as Residential Class III Type - I.

How the guideline value of Fisherman Colony Road has changed

The guideline value for Fisherman Colony Road has seen several revisions over the years. The 2012 revision set the value at Rs 850 per sq.ft, which then changed to Rs 569 per sq.ft in 2017. However, this was followed by a significant increase to Rs 1,100 per sq.ft in 2023, and the current rate is Rs 1,210 per sq.ft as of the 2024 revision. Notably, there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%, but there was a remarkable increase of 93% from 2017 to 2023. The overall change from 2012 to 2024 reflects a 42% increase, highlighting the fluctuations in the guideline value over the years.

Guideline values in Mamallapuram

Mamallapuram has 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. Fisherman Colony Road's current guideline value is above this median.

• Fisherman Colony 6th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony 5th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar: Rs 935 per sq.ft (2024)
• Fisherman Colony 4th Cross Street: Rs 550 per sq.ft (2024)
• Fisherman Colony Sunami Nagar 1st Cross: Rs 550 per sq.ft (2024)
• Fisherman Colony 3rd Cross Street: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Fisherman Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,210 per sq.ft, the total guideline value amounts to Rs 12,10,000. The stamp duty at 7% would be Rs 84,700, and the registration fee at 2% would be Rs 24,200, bringing the total charges to Rs 1,08,900. Please note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Fisherman Colony Road?

The Fisherman Colony Road is covered by 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 during the registration of property transactions in Mamallapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Fisherman Colony Road?

The current guideline value of Fisherman Colony Road is Rs 1,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 850 per sq.ft in 2012 to Rs 1,210 per sq.ft in 2024, with various revisions in between, including a notable increase of 93% from 2017 to 2023.

What is the median guideline value in Mamallapuram?

The median guideline value in Mamallapuram is Rs 935 per sq.ft, with Fisherman Colony Road's current value being above this median.

What are the stamp duty and registration fees for property in Fisherman Colony Road?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 12,10,000, the total charges would amount to Rs 1,08,900.

Which office handles property registrations for Fisherman Colony Road?

The Thirukazhukundram Sub Registrar Office handles property registrations for Fisherman Colony Road, located at Thiruchengode - 637 211, Chengalpattu registration zone.