Guideline Value for Professor Colony 1st Main Road

Professor Colony 1st Main Road guideline value

The current guideline value of Professor Colony 1st Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024. This road is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Special Type - IV.

How the guideline value of Professor Colony 1st Main Road has changed

The guideline value for Professor Colony 1st Main Road has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 3,300 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 2,211 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,300 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,500 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Professor Colony 1st Main Road's 2024 figure above this median.

• Professor Colony 1st Cross Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 1st Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 2nd Cross Street: Rs 3,500 per sq.ft (2024)
• Professor Colony: Rs 3,500 per sq.ft (2024)
• Professor Colony 2nd Main Road: Rs 3,500 per sq.ft (2024)
• Professor Colony 2nd Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Professor Colony 1st Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, while the registration fee at 2% would be Rs 70,000. Together, the total cost for stamp duty and registration would be Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Professor Colony 1st Main Road?

The Sub Registrar Office that covers Professor Colony 1st Main Road 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 online for more information.

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

The guideline value is a crucial factor when registering property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and reflects the current market conditions as per the guidelines set by the Registration Department.

Frequently asked questions

What is the current guideline value of Professor Colony 1st Main Road?

The current guideline value of Professor Colony 1st Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,300 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024, reflecting a 6% increase. The value was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Professor Colony 1st Main Road?

Professor Colony 1st Main Road is classified as Residential Special Type - IV, indicating its designation for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty for property transactions in this area is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Professor Colony 1st Main Road is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073. You can find more details online.