Guideline Value for Professor Colony 4th Cross Street

Professor Colony 4th Cross Street guideline value

The current guideline value of Professor Colony 4th 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 is classified as Residential Special Type - IV.

How the guideline value of Professor Colony 4th Cross Street has changed

The guideline value for Professor Colony 4th Cross Street has undergone several revisions over the years. In 2007, the guideline value was Rs 450 per sq.ft, which increased significantly to Rs 3,300 per sq.ft in 2012. However, this figure decreased to Rs 2,211 per sq.ft in 2017. The 2023 revision set the value at Rs 3,300 per sq.ft, and the most recent revision in 2024 raised it to Rs 3,500 per sq.ft.

Between the revisions, there have been notable changes. From 2007 to 2012, the value increased by 633%. However, from 2012 to 2017, there was a decrease of 33%. The value then rose by 49% from 2017 to 2023. The most recent change from 2023 to 2024 reflects an increase of 6%. 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, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, making the current value of Professor Colony 4th Cross Street above this median.

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

Stamp duty and registration fee for property in Professor Colony 4th 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Professor Colony 4th Cross Street?

The Sub Registrar Office that covers Professor Colony 4th 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 during the registration of property transactions in Selaiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it can impact the overall cost of the transaction. Buyers should consider this value when negotiating prices to ensure compliance with legal requirements and to avoid potential disputes during registration.

Frequently asked questions

What is the current guideline value of Professor Colony 4th Cross Street?

The current guideline value of Professor Colony 4th 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 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, reflecting an overall increase of 678% over this period.

What is the land classification for Professor Colony 4th Cross Street?

Professor Colony 4th 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 Selaiyur?

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