Guideline Value for TEACHERS COLONY MAIN ROAD

Teachers Colony Main Road guideline value

The current guideline value of Teachers Colony Main Road is Rs 4,500 per sq.ft, effective from 1 July 2024. This road is located in Enjambakkam village, under the Neelankarai SRO, and is classified as Residential Special Type - IV.

How the guideline value of Teachers Colony Main Road has changed

The guideline value for Teachers Colony Main Road has undergone several revisions over the years. In 2003, the value was Rs 190 per sq.ft, which increased significantly to Rs 750 per sq.ft in 2007. Following this, there was a substantial rise to Rs 4,000 per sq.ft in 2012, but it then decreased to Rs 2,680 per sq.ft in 2017. The value saw a notable increase to Rs 4,000 per sq.ft in 2023, before reaching the current rate of Rs 4,500 per sq.ft in 2024.

Between these revisions, the changes were as follows: from 2003 to 2007, the increase was +295%; from 2007 to 2012, it was +433%; however, from 2012 to 2017, it declined by -33%. The value rose again by +49% from 2017 to 2023, and finally, there was an increase of +13% from 2023 to 2024. The overall change from 2003 to 2024 is +2268%. 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 Main Road above this median.

• TEACHERS COLONY 4th CROSS STREET: Rs 3,900 per sq.ft (2024)
• TEACHERS COLONY 3rd 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)
• Thandai Periyar Street: Rs 2,200 per sq.ft (2024)
• Thanigaivel Garden: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,500 per sq.ft, the total guideline value amounts to Rs 45,00,000. The stamp duty at 7% would be Rs 3,15,000, while the registration fee at 2% would be Rs 90,000, bringing the total to Rs 4,05,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Teachers Colony Main Road?

The Sub Registrar Office that covers Teachers Colony Main Road is 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 details.

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 determines the minimum price at which a property can be registered and is used to calculate the applicable stamp duty and registration fees. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When purchasing a property, the guideline value serves as a benchmark for the transaction price. If the sale price is lower than the guideline value, the stamp duty will be calculated based on the guideline value, ensuring that the government receives the appropriate revenue from the transaction.

Frequently asked questions

What is the current guideline value of Teachers Colony Main Road?

The current guideline value of Teachers Colony Main Road is Rs 4,500 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 190 per sq.ft in 2003 to Rs 4,500 per sq.ft in 2024, reflecting an overall increase of +2268% over this period.

What are the other streets in Enjambakkam with their guideline values?

Other streets in Enjambakkam include TEACHERS COLONY 4th CROSS STREET, TEACHERS COLONY 3rd CROSS STREET, TEACHERS COLONY 2nd CROSS STREET, and TEACHERS COLONY 1st CROSS STREET, all valued at Rs 3,900 per sq.ft in 2024.

What is the registration fee for property in Teachers Colony Main Road?

The registration fee for property in Teachers Colony Main Road is calculated at 2% of the guideline value. For example, a property valued at Rs 45,00,000 would incur a registration fee of Rs 90,000.

Where can I find the Sub Registrar Office for Teachers Colony Main Road?

The Neelankarai Sub Registrar Office covers Teachers Colony Main Road and is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.