Guideline Value for LABOUR COLONY 3RD CROSS STREET

Labour Colony 3rd Cross Street guideline value

The current guideline value of Labour Colony 3rd Cross Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Labour Colony 3rd Cross Street has changed

The guideline value for Labour Colony 3rd Cross Street has seen a change from Rs 1,500 per sq.ft in the 2012 revision to Rs 1,650 per sq.ft in the 2024 revision, marking an increase of 10%. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In the 2012 revision, the value was set at Rs 1,500 per sq.ft. The next revision in 2024 brought the value to Rs 1,650 per sq.ft, which aligns with the median guideline value for Pallikaranai streets.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, and Labour Colony 3rd Cross Street matches this median.

• Labour Colony 1st Cross Street: Rs 1,650 per sq.ft (2024)
• Labour Colony 2nd 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 3rd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the 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, totaling Rs 1,48,500. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Labour Colony 3rd Cross Street?

The Labour Colony 3rd 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 calculating the stamp duty and registration fees, ensuring that the transaction is in line with the official valuation set by the government.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Labour Colony 3rd Cross Street?

The current guideline value of Labour Colony 3rd 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 increased from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, which is a 10% increase. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What are the other streets in Pallikaranai with the same guideline value?

Other streets in Pallikaranai with the same guideline value of Rs 1,650 per sq.ft include Labour Colony 1st Cross Street, Labour Colony 2nd Cross Street, Labour Colony 4th Cross Street, Labour Colony 5th Cross Street, and Labour Colony 6th Street.

What is the registration fee for property in Labour Colony 3rd Cross Street?

The registration fee for property in Labour Colony 3rd Cross Street is calculated based on the guideline value. For example, for a property valued at Rs 16,50,000, the registration fee would be Rs 33,000 at a rate of 2%.

Where is the Sub Registrar Office for Labour Colony 3rd Cross Street located?

The Sub Registrar Office for Labour Colony 3rd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.