Guideline Value for Officers Colony

Officers Colony guideline value

The current guideline value of Officers Colony in Ayanavaram village is Rs 4,900 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Residential Class I Type - III.

How the guideline value of Officers Colony has changed

The guideline value of Officers Colony has undergone several revisions over the years. In 2002, the value was Rs 624 per sq.ft, which increased to Rs 700 per sq.ft in 2003, marking a 12% rise. The value further increased to Rs 1,200 per sq.ft in 2007, showing a significant growth of 71%. In 2012, the value was Rs 4,500 per sq.ft, reflecting a substantial increase of 275% from the previous revision. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017, which was a decline of 33%.

From 2017 to 2023, the value rose sharply to Rs 4,500 per sq.ft, representing a 49% increase. The most recent revision in 2024 set the guideline value at Rs 4,900 per sq.ft, reflecting a 9% increase from the previous year. There are no figures available for the years not mentioned in this register for this street.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current value for Officers Colony.

• O- Block, Ganapathy Colony: Rs 9,900 per sq.ft (2024)
• O- Block, 37th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 36th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 35th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 34th Street: Rs 9,900 per sq.ft (2024)
• O- Block, 33rd Street: Rs 9,900 per sq.ft (2024)

Stamp duty and registration fee for property in Officers Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total charges to Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Officers Colony?

The Sub Registrar Office that covers Officers Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers must ensure that the sale price is not lower than the guideline value to avoid any legal complications.

Additionally, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Therefore, understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Officers Colony?

The current guideline value of Officers Colony is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 624 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 685% across the years.

What is the land classification of Officers Colony?

Officers Colony is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in Officers Colony?

For a 1,000 sq.ft plot, the total guideline value is Rs 49,00,000, with a stamp duty of Rs 3,43,000 and a registration fee of Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Officers Colony located?

The Sub Registrar Office for Officers Colony is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.