Guideline Value for Officers ColonyWest street

Officers ColonyWest street guideline value

The current guideline value of Officers ColonyWest 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 ColonyWest street has changed

The guideline value for Officers ColonyWest street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,500 per sq.ft, which then decreased to Rs 3,015 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 4,500 per sq.ft, and the most recent 2024 revision has set it at Rs 5,000 per sq.ft.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from the 2017 revision to the 2023 revision, the value increased by 49%. The change from the 2023 to the 2024 revision represents an increase of 11%. 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 with 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 current value of Officers ColonyWest street above this median.

• Officers Colony Middle street: Rs 3,900 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 ColonyWest 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, totaling 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. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Officers ColonyWest street?

The Sub Registrar Office that covers Officers ColonyWest 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 during the registration process of property transactions in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the government collects the appropriate revenue based on property values.

When buying or selling property, the guideline value can influence the final sale price. Buyers should be aware that the stamp duty is applied to the higher of the guideline value or the sale price, which may affect their overall costs during the transaction.

Frequently asked questions

What is the current guideline value of Officers ColonyWest street?

The current guideline value of Officers ColonyWest street is Rs 5,000 per sq.ft as per the 2024 revision.

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 set at Rs 5,000 per sq.ft in 2024.

What is the land classification for Officers ColonyWest street?

Officers ColonyWest street is classified as Residential Class I Type - I.

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 is Rs 3,50,000, and the registration fee is Rs 1,00,000, totaling Rs 4,50,000.

Where is the Sub Registrar Office located?

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