Guideline Value for LABOUR COLONY 2ND CROSS STREET

Labour Colony 2nd Cross Street guideline value

The current guideline value of Labour Colony 2nd 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. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Labour Colony 2nd Cross Street has changed

The guideline value for Labour Colony 2nd Cross Street has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,500 per sq.ft. The latest revision in 2024 has increased this value to Rs 1,650 per sq.ft, marking a change of +10% from the previous figure.

There are no figures available for the revisions in the years 2002, 2003, 2007, 2017, and 2023 for this street. Therefore, the only figures that reflect the guideline value changes are from the 2012 and 2024 revisions.

Guideline values in Pallikaranai

Pallikaranai village has a total of 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 for these streets is Rs 1,650 per sq.ft, which is the same as the current figure for Labour Colony 2nd Cross Street.

• Labour Colony 1st 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 2nd 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 would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Labour Colony 2nd Cross Street?

The Sub Registrar Office that covers Labour Colony 2nd Cross Street is 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, Chennai registration zone.

To find your specific Sub Registrar Office, you can visit this link: find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

Frequently asked questions

What is the current guideline value for Labour Colony 2nd Cross Street?

The current guideline value for Labour Colony 2nd 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, reflecting a +10% increase. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What are the registration fees for properties in this area?

The registration fees for properties are calculated based on the guideline value, which for Labour Colony 2nd Cross Street is Rs 1,650 per sq.ft. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,48,500, including stamp duty and registration fees.

Which office handles property registrations for Labour Colony 2nd Cross Street?

The Chennai South Joint I Sub Registrar Office handles property registrations for Labour Colony 2nd 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 significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that the fees are calculated fairly based on the set value of the property in the area.