Guideline Value for TEACHERS COLONY

Teachers Colony guideline value

The current guideline value of Teachers Colony, located in Karapakkam village under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Teachers Colony has changed

The guideline value for Teachers Colony has seen several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, this value decreased to Rs 670 per sq.ft in 2017. The 2023 revision set the value at Rs 1,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 1,100 per sq.ft. The register has no figure for this street for the years 2002 and 2003.

Looking at the changes, the guideline value increased by 150% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. The jump from 2023 to 2024 represents a 10% increase. Overall, from 2007 to 2024, the guideline value has risen by 175%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Teachers Colony is below this median.

• Thendral Nagar: Rs 2,200 per sq.ft (2024)
• THENDRAL NAGAR 1st STREET: Rs 2,200 per sq.ft (2024)
• THENDRAL NAGAR to K.C.G.COLLEGE LINK ROAD: Rs 2,200 per sq.ft (2024)
• Thulukanam Garden: Rs 1,100 per sq.ft (2024)
• Tvs Emerald Hamlet: Rs 10,700 per sq.ft (2024)
• Vai Kund-Sundaram Estate: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony?

The Sub Registrar Office that covers Teachers Colony 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable fees, ensuring that the transaction is recorded accurately according to the official rates set by the government.

Frequently asked questions

What is the current guideline value of Teachers Colony?

The current guideline value of Teachers Colony is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the stamp duty rates for property in Teachers Colony?

The stamp duty for property transactions in Teachers Colony is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

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

What is the median guideline value in Karapakkam?

The median guideline value in Karapakkam is Rs 1,700 per sq.ft, while the guideline value for Teachers Colony is below this median.