Guideline Value for Officer Colony 3rd Cross Street

Officer Colony 3rd Cross Street guideline value

The current guideline value of Officer Colony 3rd 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, and the land classification is Mixed Special Type - I.

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

In the 2012 revision, the guideline value was Rs 4,500 per sq.ft. This figure decreased to Rs 3,015 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49%, reaching Rs 4,500 per sq.ft. The current 2024 revision shows a further increase to Rs 4,950 per sq.ft, which is a 10% rise from the previous year.

The guideline value register does not have figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 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 of Officer Colony 3rd Cross Street is above this median.

• Officer Colony 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony Lane: Rs 4,950 per sq.ft (2024)
• Officer Colony 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony Main Road: Rs 4,950 per sq.ft (2024)
• Officer Colony: 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 3rd 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 would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost 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.

For more details, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office that covers Officer Colony 3rd 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 is a crucial factor during the registration of property transactions in Porur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the legal financial obligations involved in the transaction.

Frequently asked questions

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

The current guideline value of Officer Colony 3rd 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 seen several changes: it was Rs 4,500 per sq.ft in 2012, decreased to Rs 3,015 per sq.ft in 2017, rose to Rs 4,500 per sq.ft in 2023, and is now Rs 4,950 per sq.ft in 2024.

What are the stamp duty rates for properties in Officer Colony 3rd Cross Street?

The stamp duty for properties in Officer Colony 3rd Cross Street is charged at a rate of 7% on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Officer Colony 3rd Cross Street?

The Kunrathur Sub Registrar Office covers Officer Colony 3rd Cross Street and is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Officer Colony 3rd Cross Street?

The land classification for Officer Colony 3rd Cross Street is Mixed Special Type - I, indicating the type of development permissible in this area.