Guideline Value for Professor Colony 2nd Main Road

Professor Colony 2nd Main Road guideline value

The current guideline value of Professor Colony 2nd Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024. This area 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 Main Road has changed

The guideline value for Professor Colony 2nd Main Road has seen several revisions over the years. The value was Rs 450 per sq.ft in 2007, which increased significantly to Rs 3,300 per sq.ft in 2012. However, it dropped to Rs 2,211 per sq.ft in 2017, before rising again to Rs 3,300 per sq.ft in 2023, and finally reaching the current value of Rs 3,500 per sq.ft in 2024. The changes from 2023 to 2024 reflect an increase of 6%, while the jump from 2017 to 2023 shows a notable increase of 49%.

Between 2012 and 2017, the value decreased by 33%, and the remarkable rise from 2007 to 2012 was 633%. Overall, from 2007 to 2024, the guideline value has increased by 678%. The register does not contain figures for the years 2002 and 2003 for this street.

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, with a median value of Rs 2,200 per sq.ft. The guideline value of Professor Colony 2nd Main Road is above this median.

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

Stamp duty and registration fee for property in Professor Colony 2nd 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, bringing the total fees together to Rs 3,15,000. It is important to note that 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 2nd Main Road?

The Professor Colony 2nd Main Road is covered by 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 Selaiyur

The guideline value plays a crucial role in property transactions in Selaiyur. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value may differ from the sale price, and the higher amount will be used to calculate the applicable duties.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in accurately assessing the costs involved in property transactions. It is advisable to consult the latest guideline value before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Professor Colony 2nd Main Road?

The current guideline value of Professor Colony 2nd 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 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 of Professor Colony 2nd Main Road?

The land classification of Professor Colony 2nd Main Road is Residential Special Type - IV.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same amount.

Which office handles registrations for Professor Colony 2nd Main Road?

The Selaiyur Sub Registrar Office handles registrations for Professor Colony 2nd Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.