Guideline Value for TEACHERS COLONY (JAYARAM NAGAR)

Teachers Colony (Jayaram Nagar) guideline value

The current guideline value of Teachers Colony (Jayaram Nagar) is Rs 7,150 per sq.ft, effective from 1 July 2024. This area is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Teachers Colony (Jayaram Nagar) has changed

The guideline value for Teachers Colony (Jayaram Nagar) has seen significant changes over the years. In 2002, the guideline value was Rs 1,022 per sq.ft. It increased to Rs 1,131 per sq.ft in 2003, marking an 11% rise. By 2007, the value surged to Rs 1,300 per sq.ft, reflecting a 15% increase. The next revision in 2012 saw a substantial jump to Rs 6,500 per sq.ft, which was a 400% increase. However, this figure dropped to Rs 4,355 per sq.ft in 2017, representing a decrease of 33%.

In 2023, the guideline value was set at Rs 6,500 per sq.ft, and it rose by 10% to reach the current value of Rs 7,150 per sq.ft in 2024. Overall, from 2002 to 2024, the guideline value has increased by 600%, highlighting the fluctuations in property values over the years.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with 2024 guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for the area is Rs 9,900 per sq.ft, placing the Teachers Colony (Jayaram Nagar) 2024 figure below this median.

• Teachers Colony 4th Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 3rd Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 2nd Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Tamilnadu Sum Clearance Board: Rs 3,520 per sq.ft (2024)
• Thangal Butt Road: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony (Jayaram Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value amounts to Rs 71,50,000. The stamp duty, charged at 7%, would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000. Together, these fees total Rs 6,43,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Teachers Colony (Jayaram Nagar)?

The Teachers Colony (Jayaram Nagar) area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Thiruvanmiyur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value helps in calculating the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and tax purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Teachers Colony (Jayaram Nagar)?

The current guideline value for Teachers Colony (Jayaram Nagar) is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,022 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, marking an overall increase of 600% over this period.

What are the stamp duty and registration fees for property transactions in this area?

For a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500, and the registration fee would be Rs 1,43,000, totaling Rs 6,43,500.

Which office handles registrations for Teachers Colony (Jayaram Nagar)?

The Chennai South Joint I Sub Registrar Office handles registrations for Teachers Colony (Jayaram Nagar), located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is the guideline value determined for property transactions?

The guideline value is determined based on various factors and serves as the minimum value for registering property transactions. It is used to calculate applicable stamp duty and registration fees during the buying and selling process.