Guideline Value for Police Colony Road

Police Colony Road guideline value

The current guideline value of Police Colony Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class II Type - I.

How the guideline value of Police Colony Road has changed

The guideline value for Police Colony Road has seen several revisions over the years. In 2002, the guideline value was Rs 508 per sq.ft, which increased to Rs 558 per sq.ft in 2003. Following this, there was a significant rise to Rs 945 per sq.ft in 2007, and then it jumped dramatically to Rs 5,000 per sq.ft in 2012. However, the value decreased to Rs 3,350 per sq.ft in 2017 before rising again to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft.

In terms of percentage changes, from 2002 to 2024, the guideline value has increased by 983%. The changes between revisions include a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a remarkable 429% increase from 2007 to 2012, a 69% increase from 2003 to 2007, and a 10% increase from 2002 to 2003. There are no figures available for any other years for this street in the register.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, placing Police Colony Road's 2024 figure below that median.

• Ponnappa Lane: Rs 6,600 per sq.ft (2024)
• Ponnappa Street: Rs 6,600 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 8,800 per sq.ft (2024)
• Pillaiyar Koil 2nd lane: Rs 6,600 per sq.ft (2024)
• Pillaiyar Koil 1st lane: Rs 6,600 per sq.ft (2024)
• Peyalwar Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Police Colony Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, leading to a total of Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Police Colony Road?

The Sub Registrar Office that covers Police Colony Road is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is crucial when buying or selling property in Triplicane as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and fairly, reflecting the official valuation of the property. Buyers and sellers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Police Colony Road?

The current guideline value of Police Colony Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 508 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing an overall increase of 983%.

What is the land classification for Police Colony Road?

Police Colony Road is classified as Residential Class II Type - I under the Triplicane SRO.

What are the stamp duty and registration fees for a property in Police Colony Road?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Where is the Sub Registrar Office for Police Colony Road located?

The Triplicane Sub Registrar Office is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.