Guideline Value for Officers Colony Middle street

Officers Colony Middle street guideline value

The current guideline value of Officers Colony Middle street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of Officers Colony Middle street has changed

The guideline value for Officers Colony Middle street has seen several revisions over the years. In 2012, the value was Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and then rose further to Rs 3,900 per sq.ft in 2024, marking an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, 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 with a 2024 guideline value ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the guideline value of Officers Colony Middle street.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,900 per sq.ft, the guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Officers Colony Middle street?

The Officers Colony Middle street falls under the jurisdiction of the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. To find your SRO, you can visit find your SRO.

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 the basis for calculating the stamp duty and registration fees, which are mandatory for property transactions.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Officers Colony Middle street?

The current guideline value of Officers Colony Middle street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and finally to Rs 3,900 per sq.ft in 2024.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for Officers Colony Middle street?

The Alandur Sub Registrar Office handles the registration for Officers Colony Middle street, 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 for streets in Adambakkam is Rs 3,900 per sq.ft, which is the same as the current guideline value for Officers Colony Middle street.