Guideline Value for SECRATRY COLONY

Secratry Colony guideline value

The current guideline value of Secratry Colony, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Secratry Colony has changed

The guideline value for Secratry Colony has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and currently stands at Rs 2,800 per sq.ft in the 2024 revision. Notably, there are no figures available for the revisions in 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 substantial increase of 49%. The current 2024 figure reflects a 12% rise from the 2023 value. Overall, from 2012 to 2024, the guideline value has increased by 12%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, and Secratry Colony's current figure of Rs 2,800 per sq.ft is below this median.

• Secretariat Colony: Rs 3,900 per sq.ft (2024)
• S.C.R.Avenue: Rs 1,700 per sq.ft (2024)
• Selvakumar Avenue: Rs 3,900 per sq.ft (2024)
• Selvakumar Avenue 1st Street: Rs 3,900 per sq.ft (2024)
• Selvakumar Avenue Main Road: Rs 3,900 per sq.ft (2024)
• Saravanabava Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Secratry Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value amounts to Rs 28,00,000. The stamp duty is charged at 7%, which totals Rs 1,96,000, while the registration fee at 2% amounts to Rs 56,000. Together, the total cost for stamp duty and registration fees would be Rs 2,52,000. 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Secratry Colony?

The Secratry Colony is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. For more information, you can find your SRO.

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

The guideline value plays a crucial role during property transactions in Okkiyamthuraipakkam. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation of the property.

It is essential for buyers and sellers to be aware of the current guideline value, as it affects the overall costs involved in the transaction. The guideline value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Secratry Colony?

The current guideline value of Secratry Colony is Rs 2,800 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,800 per sq.ft in 2024.

What is the land classification of Secratry Colony?

Secratry Colony falls under the Residential Class II Type - II land classification.

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

The stamp duty is charged at 7% and the registration fee at 2%. For a 1,000 sq.ft plot at the guideline value, the total stamp duty and registration fees would amount to Rs 2,52,000.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.