Guideline Value for TEACHERS COLONY 3rd CROSS STREET

TEACHERS COLONY 3rd CROSS STREET guideline value

The current guideline value of TEACHERS COLONY 3rd CROSS STREET is Rs 3,900 per sq.ft. This street is located in Enjambakkam village and falls under the Neelankarai SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of TEACHERS COLONY 3rd CROSS STREET has changed

The guideline value for TEACHERS COLONY 3rd CROSS STREET has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 190 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2007. The value then rose dramatically by 367% to Rs 3,500 per sq.ft in 2012. However, it decreased by 33% to Rs 2,345 per sq.ft in 2017. The value further increased by 49% to Rs 3,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 3,900 per sq.ft, marking an 11% increase from the previous year.

It is important to note that there is no figure available for TEACHERS COLONY 3rd CROSS STREET in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 1953%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. TEACHERS COLONY 3rd CROSS STREET's 2024 figure of Rs 3,900 per sq.ft is above this median.

• TEACHERS COLONY 4th CROSS STREET: Rs 3,900 per sq.ft (2024)
• TEACHERS COLONY 2nd CROSS STREET: Rs 3,900 per sq.ft (2024)
• TEACHERS COLONY 1st 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 3rd 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 would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for these fees would be Rs 3,51,000. 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 detailed calculations.

Which Sub Registrar Office covers TEACHERS COLONY 3rd CROSS STREET?

The TEACHERS COLONY 3rd CROSS STREET falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Enjambakkam. It serves as a benchmark for determining the minimum value of a property, which is essential during the registration process. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations and to avoid any legal issues.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of TEACHERS COLONY 3rd CROSS STREET?

The current guideline value of TEACHERS COLONY 3rd 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 from Rs 190 per sq.ft in 2003 to Rs 3,900 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification for TEACHERS COLONY 3rd CROSS STREET?

The land classification for TEACHERS COLONY 3rd CROSS STREET is Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Neelankarai Sub Registrar Office, which covers TEACHERS COLONY 3rd CROSS STREET, is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 39,00,000 would incur a stamp duty of Rs 2,73,000 and a registration fee of Rs 78,000.