Guideline Value for Officer Colony 1st Cross Street

Officer Colony 1st Cross Street guideline value

The current guideline value of Officer Colony 1st Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Porur village under the Kunrathur SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Officer Colony 1st Cross Street has changed

The guideline value for Officer Colony 1st Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in the 2017 revision. Subsequently, the value increased to Rs 4,500 per sq.ft in 2023, and the latest revision in 2024 has raised it to Rs 4,950 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Porur

In Porur, there are 530 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,860 to Rs 6,380 per sq.ft, with a median value of Rs 3,960 per sq.ft. The guideline value for Officer Colony 1st Cross Street is above this median.

• Officer Colony: Rs 4,950 per sq.ft (2024)
• Officer Colony 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony Lane: Rs 4,950 per sq.ft (2024)
• Officer Colony Main Road: Rs 4,950 per sq.ft (2024)
• Officer Colony Pillaiyar Koil Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Officer Colony 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total charges to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Officer Colony 1st Cross Street?

The Sub Registrar Office that covers Officer Colony 1st Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Porur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value is considered to ensure that the correct fees are charged. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Officer Colony 1st Cross Street?

The current guideline value of Officer Colony 1st Cross Street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,500 per sq.ft in 2012 to Rs 3,015 per sq.ft in 2017, then increased to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,950 per sq.ft in 2024.

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

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500.

Which office should I visit for registration in Officer Colony?

The Kunrathur Sub Registrar Office is responsible for registrations in Officer Colony 1st Cross Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Officer Colony 1st Cross Street?

The land classification for Officer Colony 1st Cross Street is Mixed Special Type - I.