Guideline Value for Officers Colony 4th Street

Officers Colony 4th Street guideline value

The current guideline value of Officers Colony 4th Street is Rs 5,000 per sq.ft, effective from 1 July 2024. 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 4th Street has changed

The guideline value for Officers Colony 4th Street has seen several revisions over the years. Starting from Rs 266 per sq.ft in 2002, it increased to Rs 600 per sq.ft in 2003, marking a change of +126%. The value then rose to Rs 900 per sq.ft in 2007, an increase of +50%. Following this, there was a significant jump to Rs 4,500 per sq.ft in 2012, which represented a remarkable +400% change. However, the value dropped to Rs 3,015 per sq.ft in 2017, a decrease of -33%. The guideline value then increased to Rs 4,500 per sq.ft in 2023, showing a rise of +49%. The most recent revision in 2024 set the value at Rs 5,000 per sq.ft, reflecting an increase of +11%.

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

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value is Rs 3,900 per sq.ft, making the 2024 guideline value for Officers Colony 4th Street above this median.

• Officers Colony 4th Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony 5th Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 3rd Street: Rs 5,000 per sq.ft (2024)
• Officers Colony Centre Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 3rd Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony Cross Street: Rs 5,000 per sq.ft (2024)

Stamp duty and registration fee for property in Officers Colony 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 5,000 per sq.ft, the 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 to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Officers Colony 4th Street?

The Sub Registrar Office that covers Officers Colony 4th 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable on the property transaction.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Officers Colony 4th Street?

The current guideline value of Officers Colony 4th 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, with various increases and one decrease along the way.

What is the land classification for Officers Colony 4th Street?

Officers Colony 4th Street is classified as Residential Class I Type - I.

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.

How is stamp duty calculated for properties in Officers Colony 4th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 50,00,000 would incur a stamp duty of Rs 3,50,000 at 7%.