Guideline Value for PERIYA COLONY BAJANAI EAST STREET 3 FEET LANE

Periya Colony Bajanai East Street 3 Feet Lane guideline value

The current guideline value of Periya Colony Bajanai East Street 3 Feet Lane is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Manapakkam village and falls under the Chennai South Joint I SRO, classified as Residential Class V Type - III.

How the guideline value of Periya Colony Bajanai East Street 3 Feet Lane has changed

The guideline value for Periya Colony Bajanai East Street 3 Feet Lane has undergone several revisions over the years. The earliest available revision is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and as of the 2024 revision, it has further increased to Rs 1,100 per sq.ft. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10% in the guideline value.

Guideline values in Manapakkam

In Manapakkam, there are 368 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 12,800 per sq.ft. The median guideline value for these streets is Rs 2,530 per sq.ft, indicating that the 2024 figure for Periya Colony Bajanai East Street 3 Feet Lane is below this median.

• Periya Colony Bajanai East Street 2nd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 3rd Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 1st Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 4th Left Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Periya Colony Bajanai East Street 5th Left Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Periya Colony Bajanai East Street 3 Feet Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total charges to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Periya Colony Bajanai East Street 3 Feet Lane?

The Sub Registrar Office that covers Periya Colony Bajanai East Street 3 Feet Lane is the Chennai South Joint I Sub Registrar Office. The office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Manapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a value that reflects the prevailing market standards.

When a buyer and seller agree on a sale price, the guideline value is compared with this price. The higher of the two is used to calculate the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Periya Colony Bajanai East Street 3 Feet Lane?

The current guideline value of Periya Colony Bajanai East Street 3 Feet Lane is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024. There are no figures available for the years 2002, 2003, and 2007 for this street.

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

The stamp duty for a property valued at Rs 11,00,000 would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000. These fees are calculated based on the higher of the guideline value and the sale price.

Which office handles registrations for this street?

The Chennai South Joint I Sub Registrar Office handles registrations for Periya Colony Bajanai East Street 3 Feet Lane. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the significance of the guideline value in property transactions?

The guideline value serves as a reference point for the minimum price at which a property can be registered. It ensures that property transactions are documented accurately and that the government receives appropriate revenue through stamp duty and registration fees.