Guideline Value for Professor Colony 1st Street

Professor Colony 1st Street guideline value

The current guideline value of Professor Colony 1st Street is Rs 3,500 per sq.ft, effective from 1 July 2024. This street 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 Street has changed

The guideline value for Professor Colony 1st Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,300 per sq.ft. This was followed by a decrease to Rs 2,211 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 3,300 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the guideline value to Rs 3,500 per sq.ft, reflecting a 6% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 6%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values 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 the 2024 figure for Professor Colony 1st Street above this median.

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

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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,500 per sq.ft, the total guideline value amounts to Rs 35,00,000. The stamp duty at 7% would be Rs 2,45,000, and the registration fee at 2% would be Rs 70,000, bringing the total cost for these fees to 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 also calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Professor Colony 1st Street?

The Sub Registrar Office that covers Professor Colony 1st Street 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.

To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Selaiyur. It serves as a benchmark for determining the minimum value of a property, ensuring that the property is registered at a fair price. Buyers and sellers must be aware of this value to understand the financial implications of their transactions.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are compliant with local regulations and that the government receives the appropriate revenue from property sales.

Frequently asked questions

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

The current guideline value of Professor Colony 1st Street 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. It was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012.

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

For a property valued at Rs 35,00,000, the stamp duty would be Rs 2,45,000 and the registration fee would be Rs 70,000, totaling Rs 3,15,000.

Which Sub Registrar Office covers Professor Colony 1st Street?

The Selaiyur Sub Registrar Office covers Professor Colony 1st Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Professor Colony 1st Street?

Professor Colony 1st Street is classified as Residential Special Type - IV, indicating its suitability for residential development.