Guideline Value for Professor Colony 3rd Main Road

Professor Colony 3rd Main Road guideline value

The current guideline value of Professor Colony 3rd Main Road is Rs 3,500 per sq.ft, effective from 1 July 2024. This road is located in Selaiyur village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - IV.

How the guideline value of Professor Colony 3rd Main Road has changed

The guideline value for Professor Colony 3rd Main Road has seen several revisions over the years. Starting with the 2007 revision, the value was Rs 450 per sq.ft. This figure rose significantly to Rs 3,300 per sq.ft in the 2012 revision, marking an increase of 633%. However, in the 2017 revision, the value decreased to Rs 2,211 per sq.ft, a decline of 33%. The 2023 revision saw the value rise again to Rs 3,300 per sq.ft, and the latest revision in 2024 has set the guideline value at Rs 3,500 per sq.ft, reflecting a 6% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 678%. It is important to note that there are no figures available for the revisions in 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 3rd Main Road is above this median.

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

Stamp duty and registration fee for property in Professor Colony 3rd 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 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 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 use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Professor Colony 3rd Main Road?

The Professor Colony 3rd 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 additional assistance.

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

The guideline value is a critical factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Proper understanding of these values can help in making informed decisions during property dealings.

Frequently asked questions

What is the current guideline value of Professor Colony 3rd Main Road?

The current guideline value of Professor Colony 3rd 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 are the stamp duty and registration fees for property transactions?

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 office handles registrations for properties in Professor Colony 3rd Main Road?

The Selaiyur Sub Registrar Office handles registrations for properties in Professor Colony 3rd Main Road, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum registration value for properties, which in turn affects the stamp duty and registration fees during a transaction. Understanding this value is crucial for buyers and sellers alike.