Guideline Value for OFFICERS COLONY 3RD CROSS STREET

Officers Colony 3rd Cross Street guideline value

The current guideline value of Officers Colony 3rd Cross Street is Rs 7,000 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village under the Kodambakkam SRO, and the land classification is Mixed Type - II.

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

The guideline value for Officers Colony 3rd Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,750 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, this figure dropped to Rs 4,355 per sq.ft in 2017. The value then rose to Rs 6,500 per sq.ft in 2023, and currently stands at Rs 7,000 per sq.ft as of the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2017 to 2023, there was a 49% increase, followed by an 8% increase from 2023 to 2024. The overall increase from 2007 to 2024 is 300%, highlighting the significant changes in the guideline value over the years.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, making the 2024 figure for Officers Colony 3rd Cross Street above this median.

• Officers Colony 2nd Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 3rd Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 2nd Cross Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 1st Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 4th Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 1st Cross Street: Rs 7,000 per sq.ft (2024)

Stamp duty and registration fee for property in Officers Colony 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value amounts to Rs 70,00,000. The stamp duty at 7% would be Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, making the total cost for these fees Rs 6,30,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers Officers Colony 3rd Cross Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

When buying or selling property in Vadaagaram, the guideline value plays a crucial role in determining the registration fees. The guideline value is the minimum value set by the government for property transactions, and it is used to calculate the stamp duty and registration fees applicable at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during property transactions. The guideline value serves as a reference point for the fair pricing of properties in the area.

Frequently asked questions

What is the current guideline value for Officers Colony 3rd Cross Street?

The current guideline value for Officers Colony 3rd Cross Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,750 per sq.ft in 2007 to Rs 7,000 per sq.ft in 2024, showing an overall increase of 300% over this period.

What is the registration office for this area?

The registration office for Officers Colony 3rd Cross Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 70,00,000 would incur a stamp duty of Rs 4,90,000 at 7%.

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

Other streets in Vadaagaram under the Kodambakkam SRO that share the same guideline value of Rs 7,000 per sq.ft include Officers Colony 1st Street, Officers Colony 2nd Street, Officers Colony 3rd Street, Officers Colony 4th Street, and Officers Colony 1st Cross Street.