Guideline Value for Professor Colony 3rd Cross Street

Professor Colony 3rd Cross Street guideline value

The current guideline value of Professor Colony 3rd Cross 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 it is classified as Residential Special Type - IV.

How the guideline value of Professor Colony 3rd Cross Street has changed

The guideline value for Professor Colony 3rd Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 3,300 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 2,211 per sq.ft. The value remained the same in the 2023 revision at Rs 3,300 per sq.ft, before increasing to Rs 3,500 per sq.ft in the 2024 revision, marking a 6% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%. The revisions for the years 2002, 2003, and 2007 do not have figures available for this street.

Guideline values in Selaiyur

In Selaiyur village, 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 guideline value in Selaiyur is Rs 2,200 per sq.ft, placing the 2024 value of Professor Colony 3rd Cross Street above this median.

• Professor Colony 2nd Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 3rd Main Road: Rs 3,500 per sq.ft (2024)
• Professor Colony 2nd Main Road: Rs 3,500 per sq.ft (2024)
• Professor Colony 3rd Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 2nd Cross Street: Rs 3,500 per sq.ft (2024)
• Professor Colony 4th Cross Street: Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Professor Colony 3rd 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 would be Rs 35,00,000. The stamp duty at 7% would amount to Rs 2,45,000, and 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 our stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Professor Colony 3rd Cross Street?

The Sub Registrar Office that covers Professor Colony 3rd Cross 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. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Professor Colony 3rd Cross Street?

The current guideline value of Professor Colony 3rd 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 from Rs 3,300 per sq.ft in 2023 to Rs 3,500 per sq.ft in 2024, an increase of 6%. It was Rs 2,211 per sq.ft in 2017 and Rs 3,300 per sq.ft in 2012, indicating a significant change over the years.

What is the land classification of Professor Colony 3rd Cross Street?

Professor Colony 3rd Cross Street is classified as Residential Special Type - IV.

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 is stamp duty calculated for properties in Professor Colony 3rd Cross Street?

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