Guideline Value for Officer Colony Main Road

Officer Colony Main Road guideline value

The current guideline value of Officer Colony Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Porur village, under the Kunrathur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Officer Colony Main Road has changed

The guideline value for Officer Colony Main Road has seen several revisions over the years. In 2012, the value was Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in 2017. Following this, the value increased significantly to Rs 4,500 per sq.ft in 2023, and then to Rs 4,950 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a total increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

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 Main Road is above this median.

• Officer Colony Lane: Rs 4,950 per sq.ft (2024)
• Officer Colony Pillaiyar Koil Street: Rs 4,950 per sq.ft (2024)
• Officer Colony 3rd Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony 2nd Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony 1st Cross Street: Rs 4,950 per sq.ft (2024)
• Officer Colony: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Officer Colony Main Road

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 to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Officer Colony Main Road?

The Sub Registrar Office that covers Officer Colony Main Road 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 in the registration process of property transactions in Porur. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with the current market standards. Buyers and sellers must be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Officer Colony Main Road?

The current guideline value of Officer Colony Main Road 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 is the land classification for Officer Colony Main Road?

Officer Colony Main Road is classified as Mixed Special Type - I, according to the guideline value register.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 49,50,000, the total fees would amount to Rs 4,45,500.

Which office handles property registrations for Officer Colony Main Road?

The Kunrathur Sub Registrar Office handles property registrations for Officer Colony Main Road, located at No.59, Road Street, Kundrathur, Chennai -600 069.