Guideline Value for OFFICERS COLONY 4TH STREET

Officers Colony 4th Street guideline value

The current guideline value of Officers Colony 4th 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 4th Street has changed

The guideline value for Officers Colony 4th Street has seen several revisions over the years. The earliest available revision is from 2007, where the value was Rs 1,750 per sq.ft. This increased significantly to Rs 6,500 per sq.ft in 2012, marking a substantial rise of 271%. However, from 2012 to 2017, the value decreased to Rs 4,355 per sq.ft, a decline of 33%. The subsequent revision in 2023 brought the value back up to Rs 6,500 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 7,000 per sq.ft, reflecting an increase of 8% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 300%, showcasing significant changes 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, placing Officers Colony 4th Street's 2024 figure above this median.

• Officers Colony 3rd Street: Rs 7,000 per sq.ft (2024)
• Officers Colony 3rd Cross 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 4th 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, bringing the total to Rs 6,30,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Officers Colony 4th Street?

The Sub Registrar Office that covers Officers Colony 4th 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 serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the necessary fees. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

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

The current guideline value of Officers Colony 4th Street is Rs 7,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What is the role of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for ensuring the correct amount is paid based on the assessed value of the property.

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

The Kodambakkam Sub Registrar Office covers Officers Colony 4th Street and is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What are the stamp duty and registration fees for property in Officers Colony 4th Street?

For a 1,000 sq.ft plot at the guideline value of Rs 7,000 per sq.ft, the total guideline value is Rs 70,00,000. The stamp duty would be Rs 4,90,000, and the registration fee would be Rs 1,40,000, totaling Rs 6,30,000.