Guideline Value for Officer Colony

Officer Colony guideline value

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

How the guideline value of Officer Colony has changed

The guideline value of Officer Colony has seen significant changes over the years. In 2002, the value was Rs 409 per sq.ft, which increased to Rs 600 per sq.ft in 2003, marking a 47% rise. By 2007, the value jumped to Rs 1,000 per sq.ft, reflecting a 67% increase. The 2012 revision saw the value rise to Rs 4,500 per sq.ft, a substantial 350% increase from the previous figure. However, in 2017, the value dropped to Rs 3,015 per sq.ft, a decrease of 33%. The guideline value then climbed to Rs 4,500 per sq.ft in 2023, before reaching the current figure of Rs 4,950 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1110%. The register has no figures for the years not mentioned in this summary.

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 is above this median.

• Officer Colony 1st Cross Street: 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

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 be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Officer Colony?

The Sub Registrar Office that covers Officer Colony 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 process when buying or selling property in Porur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is considered to ensure that the correct fees are collected based on the higher of the guideline value or the sale price. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Officer Colony?

The current guideline value of Officer Colony 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 significantly, starting from Rs 409 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, marking an overall increase of 1110%.

What is the land classification of Officer Colony?

Officer Colony is classified as Mixed Special Type - I under the land classification system.

What are the stamp duty and registration fees for property in Officer Colony?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,50,000, with stamp duty at 7% amounting to Rs 3,46,500 and a registration fee at 2% totaling Rs 99,000.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.