Guideline Value for Professor Colony 4th Street

Professor Colony 4th Street guideline value

The current guideline value of Professor Colony 4th 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 Street has changed

The guideline value for Professor Colony 4th Street has seen several revisions over the years. In 2012, the value was Rs 3,300 per sq.ft, which then decreased to Rs 2,211 per sq.ft in 2017. Following this, the value increased significantly 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.

When examining the changes, the guideline value increased by 49% from 2017 to 2023, followed by a 6% rise from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 6%. The register has no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Selaiyur

In Selaiyur, there are a total of 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing the 2024 figure for Professor Colony 4th Street above the median.

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

For a 1,000 sq.ft plot at the current rate of Rs 3,500 per sq.ft, the 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. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Professor Colony 4th Street?

The Sub Registrar Office that covers Professor Colony 4th 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 applicable to the transaction.

When a property is sold, the buyer must pay stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of Professor Colony 4th 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 2012 to Rs 2,211 per sq.ft in 2017, then increased to Rs 3,300 per sq.ft in 2023, and finally to Rs 3,500 per sq.ft in 2024.

What is the stamp duty rate for property in Selaiyur?

The stamp duty rate for property transactions in Selaiyur is 7%, which is applied to the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Professor Colony 4th Street located?

The Sub Registrar Office for Professor Colony 4th Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the median guideline value for streets in Selaiyur?

The median guideline value for streets in Selaiyur is Rs 2,200 per sq.ft, with Professor Colony 4th Street's 2024 figure of Rs 3,500 per sq.ft being above this median.