Guideline Value

Corporate

Guideline Value for PROFESSOR COLONY

₹3800/sq.ft.

The guideline value for Professor Colony in Madambakkam village (Selaiyur SRO, Chengalpattu zone) is Rs 3800 per sq.ft, effective 1 July 2024. It was Rs 3500 per sq.ft from 1 April 2023, a 9% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chengalpattu

Zone

Madambakkam

Village

Selaiyur

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹3800 /sq.ft.
From 1-4-2023 ₹3500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹2345 /sq.ft.
From 1-4-2012 To 8-6-2017 N/A
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.36,bharathmatha Salai(opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur,chennai - 600 073.
044-22391102
[email protected]

DRO (District Registrar Office)

Tambaram District Registrar Office,no.47/8,venkatesan Street,tambaram (west),chennai- 600 045.
null
[email protected], [email protected]

DIG (Deputy Inspector General)

No 10., Kancheepuram High Road., Chenglepet
null
[email protected]
Records for a plot on Professor Colony

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Professor Colony guideline value

The current guideline value of Professor Colony in Madambakkam village is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Special Type - II.

How the guideline value of Professor Colony has changed

Since the 2017 revision, the guideline value has seen significant changes. The 2017 revision recorded a value of Rs 2,345 per sq.ft, which increased to Rs 3,500 per sq.ft in the 2023 revision, marking a 49% increase. The latest revision in 2024 shows a further increase to Rs 3,800 per sq.ft, reflecting a 9% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 62%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street. The absence of figures for these years indicates that there were no recorded changes in the guideline value during those periods.

Guideline values in Madambakkam

In Madambakkam, there are 1151 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value across these streets is Rs 2,400 per sq.ft, positioning Professor Colony's 2024 figure above this median.

Stamp duty and registration fee for property in Professor Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty, charged at 7%, would be Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total cost for these fees to Rs 3,42,000. 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 detailed calculations.

Which Sub Registrar Office covers Professor Colony?

The Sub Registrar Office that covers Professor Colony is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Madambakkam. It serves as a reference point for determining the minimum value at which property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as it directly impacts the fees payable during registration.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Ensuring that the sale price meets or exceeds the guideline value is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of Professor Colony?

The current guideline value of Professor Colony is Rs 3,800 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 2,345 per sq.ft in 2017 to Rs 3,800 per sq.ft in 2024, which is an overall increase of 62% over this period.

What is the land classification of Professor Colony?

Professor Colony is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a property valued at Rs 38,00,000 would incur a total fee of Rs 3,42,000.