Guideline Value for OFFICERS COLONY 3RD STREET

Officers Colony 3rd Street guideline value

The current guideline value of Officers Colony 3rd 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 is classified as Mixed Type - II land.

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

The guideline value for Officers Colony 3rd Street has seen several revisions over the years. The earliest recorded value in 2002 was Rs 921 per sq.ft. This increased to Rs 1,019 per sq.ft in 2003, marking an 11% rise. The value then rose significantly to Rs 1,750 per sq.ft in 2007, which was a 72% increase. Following this, the guideline value surged to Rs 6,500 per sq.ft in 2012, reflecting a substantial 271% increase.

From 2012, the guideline value dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. However, it rebounded to Rs 6,500 per sq.ft in 2023, before reaching the current value of Rs 7,000 per sq.ft in 2024, which is an 8% increase. Overall, from 2002 to 2024, the guideline value has increased by 660%.

Guideline values in Vadaagaram

In Vadaagaram village, 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 value is Rs 6,600 per sq.ft, placing Officers Colony 3rd Street's 2024 figure above that median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 7,000 per sq.ft, the total guideline value would be Rs 70,00,000. The stamp duty at 7% would amount to Rs 4,90,000, and the registration fee at 2% would be Rs 1,40,000, resulting in a total of Rs 6,30,000. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Officers Colony 3rd Street?

The Sub Registrar Office that covers Officers Colony 3rd 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

The guideline value is a critical factor in the registration process for property transactions in Vadaagaram. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the current guideline value as it impacts the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Officers Colony 3rd 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 921 per sq.ft in 2002 to Rs 7,000 per sq.ft in 2024, reflecting an overall increase of 660% over the years.

What are the stamp duty and registration fees for properties in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 4,90,000, and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.

Which Sub Registrar Office covers this street?

The Kodambakkam Sub Registrar Office covers Officers Colony 3rd Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification of Officers Colony 3rd Street?

Officers Colony 3rd Street is classified as Mixed Type - II land, which influences its guideline value and usage regulations.