Guideline Value for Officers Colony Cross Street

Officers Colony Cross Street guideline value

The current guideline value of Officers Colony Cross 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 Cross Street has changed

The guideline value for Officers Colony Cross Street has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 4,500 per sq.ft. This was followed by a decrease to Rs 3,015 per sq.ft in 2017. The 2023 revision saw an increase to Rs 4,500 per sq.ft, and the most recent revision in 2024 set the value at Rs 5,000 per sq.ft, marking an 11% increase from the previous year.

From 2012 to 2017, the value decreased by 33%, and from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 Cross Street's 2024 figure above this median.

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

Stamp duty and registration fee for property in Officers Colony Cross 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 cost for these fees to Rs 4,50,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Officers Colony Cross Street?

The Sub Registrar Office that covers Officers Colony Cross 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 details.

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

The guideline value is an essential factor in property transactions in Adambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as it influences the stamp duty and registration fees applicable during the transaction.

When a property is sold, the registration office uses the guideline value to calculate the applicable duties and fees. This ensures that the government receives the correct amount based on the property's assessed value, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Officers Colony Cross Street?

The current guideline value of Officers Colony Cross 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 back to Rs 4,500 per sq.ft in 2023, and finally to Rs 5,000 per sq.ft in 2024.

What is the land classification of Officers Colony Cross Street?

Officers Colony Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

For a property valued at Rs 50,00,000, the stamp duty would be Rs 3,50,000, and the registration fee would be Rs 1,00,000, totaling Rs 4,50,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for this street?

The Alandur Sub Registrar Office covers Officers Colony Cross Street and is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.