Guideline Value for Incom-tax Colony 4th Street

Incom-tax Colony 4th Street guideline value

The current guideline value of Incom-tax Colony 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Incom-tax Colony 4th Street has changed

The guideline value for Incom-tax Colony 4th Street has seen several revisions over the years. In 2002, the value was Rs 290 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a change of +107%. The value then rose to Rs 900 per sq.ft in 2007, reflecting a +50% increase. Following that, in 2012, the value was Rs 3,500 per sq.ft, representing a significant increase of +289%. However, this figure decreased to Rs 2,345 per sq.ft in 2017, showing a decline of -33%. In 2023, the value was Rs 3,500 per sq.ft, and finally, in the 2024 revision, it increased to Rs 3,900 per sq.ft, which is an increase of +11% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by +1245%. The register has no figure for this street in any years other than those listed.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, which is equal to the current value of Incom-tax Colony 4th Street.

• Incometax Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Incom-tax Colony Main road: Rs 3,900 per sq.ft (2024)
• Incometax Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Incometax Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Incometax 3rd Lane: Rs 3,900 per sq.ft (2024)
• Incometax 2nd Lane: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Incom-tax Colony 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Incom-tax Colony 4th Street?

The Incom-tax Colony 4th Street is covered by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Adambakkam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. This value reflects the government's assessment of the property's worth and helps in standardizing property transactions.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the applicable fees. It ensures that all transactions are conducted transparently and fairly, based on the officially recognized value of the property.

Frequently asked questions

What is the current guideline value of Incom-tax Colony 4th Street?

The current guideline value of Incom-tax Colony 4th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 290 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, with various revisions in between. Notably, there was a significant increase of +289% from 2007 to 2012.

What is the land classification for Incom-tax Colony 4th Street?

Incom-tax Colony 4th Street is classified as Residential Class I Type - III, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Incom-tax Colony 4th Street located?

The Alandur Sub Registrar Office, which covers Incom-tax Colony 4th Street, is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.