Guideline Value for LABOUR COLONY 4TH CROSS STREET

Labour Colony 4th Cross Street guideline value

The current guideline value of Labour Colony 4th 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 4th Cross Street has changed

The guideline value for Labour Colony 4th Cross Street has undergone several revisions. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,500 per sq.ft. This figure increased to Rs 1,650 per sq.ft in the 2024 revision, marking a change of +10% from the 2012 figure. Notably, the register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

In summary, the guideline value increased from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024. This change reflects the current valuation as per the latest revision.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value. The values range from Rs 1,110 to Rs 8,580 per sq.ft, with the median being Rs 1,650 per sq.ft. Labour Colony 4th Cross Street's 2024 figure aligns with 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 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 4th 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, charged at 7%, would be Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration fee would be Rs 1,48,500. It is important to 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 Labour Colony 4th Cross Street?

The Labour Colony 4th 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 critical factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transaction. This ensures transparency and compliance with local regulations during property dealings.

Frequently asked questions

What is the current guideline value of Labour Colony 4th Cross Street?

The current guideline value of Labour Colony 4th 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, reflecting a +10% change. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What are the other streets in Pallikaranai with similar guideline values?

Other streets in Pallikaranai under the Chennai South Joint I SRO have a guideline value of Rs 1,650 per sq.ft as well, including Labour Colony 1st, 2nd, 3rd, 5th, and 6th Cross Streets.

How is stamp duty calculated for properties in Labour Colony 4th Cross Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total stamp duty would be Rs 1,15,500 based on the current guideline value.

Where can I find the Sub Registrar Office for Labour Colony 4th Cross Street?

The Sub Registrar Office covering Labour Colony 4th Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.