Guideline Value for Madras Dock Labour Colony

Madras Dock Labour Colony guideline value

The current guideline value of Madras Dock Labour Colony is Rs 2,200 per sq.ft, effective from 1 July 2024. This locality is situated in Thirusulam village under the Pallavaram SRO, classified as Residential Class II Type - II.

How the guideline value of Madras Dock Labour Colony has changed

The guideline value for Madras Dock Labour Colony has undergone several revisions over the years. The earliest recorded value in 2007 was Rs 370 per sq.ft, which increased significantly to Rs 2,000 per sq.ft by 2012. However, it saw a decline to Rs 1,340 per sq.ft in 2017. The value then rose to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 set the value at Rs 2,200 per sq.ft. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, it saw a substantial increase of 49%. The value decreased by 33% from 2012 to 2017, while there was a remarkable increase of 441% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 495%.

Guideline values in Thirusulam

In Thirusulam, there are 74 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,080 to Rs 2,750 per sq.ft, with a median value of Rs 1,940 per sq.ft. The guideline value of Madras Dock Labour Colony is above this median, indicating its relative valuation within the locality.

• Lakshmanan Nagar Highway Salai: Rs 1,940 per sq.ft (2024)
• Lakshmanan Nagar 1 To 10 Streets: Rs 2,200 per sq.ft (2024)
• Mangala Vinayagar Koil 1 To 6 Streets: Rs 1,320 per sq.ft (2024)
• Mangala Vinayagar Koil Street: Rs 1,320 per sq.ft (2024)
• Mangala Vinayakar Kiol Street: Rs 1,320 per sq.ft (2024)
• Kumaran Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Madras Dock Labour Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Madras Dock Labour Colony?

The Sub Registrar Office that covers Madras Dock Labour Colony is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Thirusulam. It is used to determine the stamp duty and registration fees that must be paid during the registration of property, ensuring that the transaction is recorded accurately in the government records.

When buying or selling property, the guideline value must be considered as it affects the overall cost of the transaction. Buyers should be aware that the fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Madras Dock Labour Colony?

The current guideline value of Madras Dock Labour Colony is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 370 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 495% over the years.

What are the stamp duty and registration fees for property in Madras Dock Labour Colony?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Madras Dock Labour Colony?

The Pallavaram Sub Registrar Office covers Madras Dock Labour Colony, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Madras Dock Labour Colony?

The land classification of Madras Dock Labour Colony is Residential Class II Type - II, indicating its designated use for residential purposes.