Guideline Value for Professor Colony

Professor Colony guideline value

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

How the guideline value of Professor Colony has changed

The guideline value for Professor Colony has undergone several revisions over the years. Starting from Rs 450 per sq.ft in 2007, it saw a significant increase to Rs 3,300 per sq.ft in 2012. However, this was followed by a decrease to Rs 2,211 per sq.ft in 2017. The value then rose to Rs 3,300 per sq.ft in 2023, and currently stands at Rs 3,500 per sq.ft from the 2024 revision.

Between these revisions, the changes were notable. From 2007 to 2012, there was a remarkable increase of 633%. This was followed by a decrease of 33% from 2012 to 2017. The value then increased by 49% from 2017 to 2023, and the most recent revision from 2023 to 2024 reflects a 6% increase. 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 the 2024 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 Professor Colony's current guideline value above that median.

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

Stamp duty and registration fee for property in Professor Colony

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. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Professor Colony?

The Sub Registrar Office that covers Professor Colony 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 details.

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

The guideline value is a crucial factor during property registration in Selaiyur. It determines 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, the guideline value serves as a benchmark for transactions. Buyers and sellers should be aware that the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Professor Colony?

The current guideline value of Professor Colony 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 significantly from Rs 450 per sq.ft in 2007 to Rs 3,500 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification of Professor Colony?

Professor Colony is classified as Residential Special Type - IV, which indicates its designated use for residential purposes.

Where can I find the Sub Registrar Office for Professor Colony?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for property in Professor Colony?

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