Guideline Value for Officers Colony 5th Street

Officers Colony 5th Street guideline value

The current guideline value of Officers Colony 5th 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 it falls under the Residential Class I Type - I land classification.

How the guideline value of Officers Colony 5th Street has changed

The guideline value for Officers Colony 5th Street has undergone several revisions over the years. In 2012, the guideline value was set at Rs 4,500 per sq.ft. This figure then decreased to Rs 3,015 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 4,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 5,000 per sq.ft, reflecting an 11% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

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, placing Officers Colony 5th Street's 2024 figure above that median.

• Officers Colony Centre Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 4th Street: Rs 5,000 per sq.ft (2024)
• Officers Colony Cross Street: Rs 5,000 per sq.ft (2024)
• Officers Colony 4th Main Road: Rs 5,000 per sq.ft (2024)
• Officers Colony 3rd Street: Rs 5,000 per sq.ft (2024)
• Officers Colony Middle street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Officers Colony 5th Street

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

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

Which Sub Registrar Office covers Officers Colony 5th Street?

The Officers Colony 5th Street is covered by 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Adambakkam. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it influences the overall costs associated with property transactions. It is advisable to check the most recent guideline values to ensure accurate financial planning.

Frequently asked questions

What is the current guideline value of Officers Colony 5th Street?

The current guideline value of Officers Colony 5th 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 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 reached Rs 5,000 per sq.ft in 2024.

What is the median guideline value in Adambakkam?

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

What are the stamp duty and registration fees for property in Officers Colony 5th Street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 3,50,000 and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000.

Which office handles the registration for Officers Colony 5th Street?

The registration for Officers Colony 5th Street is handled by the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.