Guideline Value for TEACHERS COLONY 1st CROSS STREET

TEACHERS COLONY 1st CROSS STREET guideline value

The current guideline value of TEACHERS COLONY 1st CROSS STREET is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Class I Type - I.

How the guideline value of TEACHERS COLONY 1st CROSS STREET has changed

The guideline value for TEACHERS COLONY 1st CROSS STREET has seen significant changes over the years. In 2003, the value was Rs 190 per sq.ft, which increased to Rs 750 per sq.ft in 2007. Following that, the value jumped to Rs 3,500 per sq.ft in 2012, a notable increase of 367%. However, it decreased to Rs 2,345 per sq.ft in 2017, marking a decline of 33%. The value then rose sharply to Rs 3,500 per sq.ft in 2023, before reaching the current value of Rs 3,900 per sq.ft in 2024, reflecting an increase of 11%.

Overall, from 2003 to 2024, the guideline value has increased by 1953%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing TEACHERS COLONY 1st CROSS STREET above this median.

• TEACHERS COLONY 2nd CROSS STREET: Rs 3,900 per sq.ft (2024)
• TEACHERS COLONY 3rd CROSS STREET: Rs 3,900 per sq.ft (2024)
• TEACHERS COLONY 4th CROSS STREET: Rs 3,900 per sq.ft (2024)
• Teachers Colony Main Road: Rs 4,500 per sq.ft (2024)
• Thandai Periyar Street: Rs 2,200 per sq.ft (2024)
• Swaminathan Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in TEACHERS COLONY 1st CROSS STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total fees to Rs 3,51,000. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers TEACHERS COLONY 1st CROSS STREET?

The TEACHERS COLONY 1st CROSS STREET is covered by the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

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

Frequently asked questions

What is the current guideline value of TEACHERS COLONY 1st CROSS STREET?

The current guideline value of TEACHERS COLONY 1st CROSS STREET is Rs 3,900 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 190 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1953% over the years.

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

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which Sub Registrar Office handles registrations for TEACHERS COLONY 1st CROSS STREET?

The Neelankarai Sub Registrar Office handles registrations for TEACHERS COLONY 1st CROSS STREET, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value determined for properties in Enjambakkam?

The guideline value is determined based on various factors and is revised periodically. It serves as a standard for calculating stamp duty and registration fees during property transactions.