Guideline Value for TEACHERS COLONY

Teachers Colony guideline value

The current guideline value of Teachers Colony in Kakkalur village is Rs 626 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 - III.

How the guideline value of Teachers Colony has changed

In the 2012 revision, the guideline value was set at Rs 625 per sq.ft. This figure saw a decrease of 33% by the 2017 revision, which recorded a value of Rs 419 per sq.ft. The subsequent revisions in 2023 and 2024 both maintained the guideline value at Rs 626 per sq.ft, reflecting no change from the previous year. The register has no figure for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a significant increase of 49%. However, when looking at the overall change from 2012 to 2024, the guideline value has remained effectively unchanged, with a total increase of 0% over this period.

Guideline values in Kakkalur

In Kakkalur, there are 133 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft. The median value across these streets is Rs 626 per sq.ft, which is equal to the current guideline value for Teachers Colony.

• Tamizharasi Avenue: Rs 626 per sq.ft (2024)
• Tamarai Street: Rs 626 per sq.ft (2024)
• Thalam Poo Street: Rs 626 per sq.ft (2024)
• Suriyakanthi Street: Rs 626 per sq.ft (2024)
• Thendral Street: Rs 626 per sq.ft (2024)
• Subathira Nagar/ Annex: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 6,26,000. The stamp duty at 7% would be Rs 43,820, while the registration fee at 2% would be Rs 12,520, bringing the total to Rs 56,340. 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 further calculations.

Which Sub Registrar Office covers Teachers Colony?

The Teachers Colony area is covered by 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 Kakkalur

The guideline value is a critical factor during property registration in Kakkalur. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When you register a property, the guideline value will be used to determine the applicable duties, ensuring that the transaction is compliant with local regulations. This value is essential for both buyers and sellers to understand, as it impacts the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Teachers Colony?

The current guideline value for Teachers Colony is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained the same at Rs 626 per sq.ft from 2023 to 2024. It increased by 49% from Rs 419 per sq.ft in 2017 to Rs 626 per sq.ft in 2023, but decreased from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017.

What is the land classification for Teachers Colony?

Teachers Colony is classified as Residential Class II Type - III. This classification influences the guideline value for properties in the area.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Teachers Colony is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where is the Sub Registrar Office for Teachers Colony located?

The Sub Registrar Office covering Teachers Colony is the Tiruvallur Joint 1 SRO, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.