Guideline Value for LABOUR COLONY 1ST CROSS STREET

Labour Colony 1st Cross Street guideline value

The current guideline value of Labour Colony 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO with a land classification of Residential Class IV Type - I.

How the guideline value of Labour Colony 1st Cross Street has changed

The guideline value for Labour Colony 1st Cross Street has been revised several times. The oldest available figure is from the 2012 revision, which was Rs 1,500 per sq.ft. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, marking a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street. Thus, the only revisions with figures are from 2012 and 2024.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, which is equal to the guideline value of Labour Colony 1st Cross Street.

• Labour Colony 2nd Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 3rd Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 4th Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 5th Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 6th Street: Rs 1,650 per sq.ft (2024)
• Lakeview Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Labour Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total charges Rs 1,48,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Labour Colony 1st Cross Street?

The Labour Colony 1st Cross Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Labour Colony 1st Cross Street?

The current guideline value of Labour Colony 1st Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, which is a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002 for this street.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. Duty is charged on the higher of the guideline value or the sale price.

Which office handles registrations for Labour Colony 1st Cross Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Labour Colony 1st Cross Street. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Labour Colony 1st Cross Street?

The land classification for Labour Colony 1st Cross Street is Residential Class IV Type - I, indicating its designation for residential use.