Guideline Value for Professor Colony 2nd Cross Street

Professor Colony 2nd Cross Street guideline value

The current guideline value of Professor Colony 2nd Cross Street is Rs 3,500 per sq.ft. 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 2nd Cross Street has changed

The guideline value for Professor Colony 2nd Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 450 per sq.ft. This increased significantly to Rs 3,300 per sq.ft in 2012, marking a rise of 633%. However, there was a decrease to Rs 2,211 per sq.ft in 2017, which represented a decline of 33%. The value then increased to Rs 3,300 per sq.ft in 2023, and further rose to the current value of Rs 3,500 per sq.ft in 2024, reflecting a 6% increase.

There are no recorded figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 678%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that have a guideline value for 2024, ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of Professor Colony 2nd Cross Street is above this median.

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

Stamp duty and registration fee for property in Professor Colony 2nd Cross 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 fees to Rs 3,15,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Professor Colony 2nd Cross Street?

The Sub Registrar Office that covers Professor Colony 2nd Cross Street is 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 details.

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

The guideline value is a critical factor during the registration of property transactions in Selaiyur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When you buy or sell property, the guideline value helps to determine the minimum value at which a property can be registered. This ensures transparency and fairness in property transactions, as it reflects the government’s assessment of property values in the area.

Frequently asked questions

What is the current guideline value of Professor Colony 2nd Cross Street?

The current guideline value of Professor Colony 2nd Cross 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 significantly from Rs 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 678% over the years.

What is the land classification for this street?

Professor Colony 2nd Cross Street is classified as Residential Special Type - IV under the guideline value register.

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

The Sub Registrar Office for Professor Colony 2nd Cross Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 35,00,000 would incur a stamp duty of Rs 2,45,000 at a rate of 7%.