Guideline Value for TEACHERS COLONY

Teachers Colony guideline value

The current guideline value of Teachers Colony in Ikkadu village is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - I.

How the guideline value of Teachers Colony has changed

The guideline value for Teachers Colony has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which was a decrease of 33% from Rs 335 per sq.ft in 2017. The 2017 revision increased the value to Rs 500 per sq.ft, which remained unchanged in the 2023 revision. The 2024 revision has also kept the guideline value at Rs 500 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained the same.

Guideline values in Ikkadu

In Ikkadu village, there are 51 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 1,400 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, and the guideline value for Teachers Colony is above this median.

• Swathi Nagar: Rs 1,400 per sq.ft (2024)
• Sundar Raj Nagar: Rs 200 per sq.ft (2024)
• Thendral Nagar-(929/1): Rs 100 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Thiruvallur- Red hills Raod: Rs 500 per sq.ft (2024)
• Sri Sai Nagar: Rs 500 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 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Colony?

The Teachers Colony area falls under the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ikkadu. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on an official valuation of the property.

When a property is sold, the buyer must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and complies with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value for Teachers Colony?

The current guideline value for Teachers Colony in Ikkadu village is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the 2012 value at Rs 500 per sq.ft, increasing to Rs 500 in 2017 and remaining unchanged in 2023 and 2024. From 2017 to 2023, the value increased by 49%, but overall, from 2012 to 2024, it has remained the same.

What are the other streets in Ikkadu and their guideline values?

Other streets in Ikkadu include Swathi Nagar at Rs 1,400 per sq.ft, Sundar Raj Nagar at Rs 200 per sq.ft, Thendral Nagar-(929/1) at Rs 100 per sq.ft, Sri Venkateswara Nagar at Rs 400 per sq.ft, Thiruvallur- Red hills Raod at Rs 500 per sq.ft, and Sri Sai Nagar at Rs 500 per sq.ft.

What fees are associated with buying property in Teachers Colony?

When buying property in Teachers Colony, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 45,000 based on the current guideline value.

Which office handles registrations for Teachers Colony?

The Tiruvallur Joint 1 Sub Registrar Office handles registrations for Teachers Colony. It is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.