Guideline Value for Officers Colony 2nd Street

Officers Colony 2nd Street guideline value

The current guideline value of Officers Colony 2nd Street is Rs 5,000 per sq.ft. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Officers Colony 2nd Street has changed

The guideline value for Officers Colony 2nd Street has seen several revisions over the years. In 2002, the value was Rs 266 per sq.ft, which increased to Rs 650 per sq.ft in 2003, marking a significant rise of 144%. By 2007, the value further increased to Rs 900 per sq.ft, a change of 38%. The 2012 revision brought the value to Rs 4,500 per sq.ft, a substantial increase of 400% from the previous figure. However, in 2017, the value decreased to Rs 3,015 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 4,500 per sq.ft, which was unchanged from 2012. The most recent revision in 2024 has raised the guideline value to Rs 5,000 per sq.ft, marking an increase of 11% from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 1780%. There are no figures available in the register for revisions in years not listed for this street.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 3,900 per sq.ft, placing Officers Colony 2nd Street's 2024 figure above this median.

• Officers Colony 2nd Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony 2nd Cross Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony 3rd Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 1st Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 1st Main Road: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Officers Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,000 per sq.ft, the total guideline value amounts to Rs 50,00,000. The stamp duty at 7% would be Rs 3,50,000, and the registration fee at 2% would be Rs 1,00,000, bringing the total fees together to Rs 4,50,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Officers Colony 2nd Street?

The Sub Registrar Office that covers Officers Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that buyers and sellers must pay when completing a property transaction.

When a property is sold, the registration office assesses the guideline value to ensure that the appropriate fees are collected. This process helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value for Officers Colony 2nd Street?

The current guideline value for Officers Colony 2nd Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 266 per sq.ft in 2002 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 1780% over the years.

What are the stamp duty rates for properties in Officers Colony 2nd Street?

The stamp duty for properties in Officers Colony 2nd Street is set at 7% of the guideline value or the sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the median guideline value in Adambakkam?

The median guideline value in Adambakkam is Rs 3,900 per sq.ft, with Officers Colony 2nd Street's guideline value being above this median at Rs 5,000 per sq.ft.