Guideline Value for TEACHERS COLONY 2ND STREET

Teachers Colony 2nd Street guideline value

The current guideline value of Teachers Colony 2nd Street is Rs 7,150 per sq.ft, effective from 1 July 2024. This street 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 2nd Street has changed

The guideline value for Teachers Colony 2nd Street has seen several revisions over the years. The 2012 revision set the value at Rs 6,500 per sq.ft, which was a decrease of 33% from the Rs 4,355 per sq.ft recorded in the 2017 revision. The 2023 revision then increased the value to Rs 6,500 per sq.ft, before the current 2024 revision raised it to Rs 7,150 per sq.ft, reflecting a 10% increase.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, making the current value of Teachers Colony 2nd Street below that median.

• Teachers Colony 3rd Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 1st Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony 4th Street: Rs 7,150 per sq.ft (2024)
• Teachers Colony (Jayaram Nagar): 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 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,150 per sq.ft, the total guideline value would be Rs 71,50,000. The stamp duty, calculated at 7%, would amount to Rs 5,00,500, while the registration fee at 2% would be Rs 1,43,000, making the total fees together Rs 6,43,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Colony 2nd Street?

The Sub Registrar Office covering Teachers Colony 2nd Street is 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 more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvanmiyur. It determines the minimum value at which the property can be registered and affects the stamp duty and registration fees payable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which is essential for both the buyer and the seller. It is important to consult the latest guideline values to understand the financial implications of any property transaction.

Frequently asked questions

What is the current guideline value of Teachers Colony 2nd Street?

The current guideline value of Teachers Colony 2nd Street 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 changed from Rs 6,500 per sq.ft in 2012 to Rs 4,355 per sq.ft in 2017, then back to Rs 6,500 per sq.ft in 2023, and finally to Rs 7,150 per sq.ft in 2024.

What is the land classification for Teachers Colony 2nd Street?

The land classification for Teachers Colony 2nd Street is Residential Class IV Type - I.

Where is the Sub Registrar Office for Teachers Colony 2nd Street located?

The Sub Registrar Office is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,50,000, the stamp duty would be Rs 5,00,500 at 7%.