Guideline Value for TEACHERS NAGAR

Teachers Nagar guideline value

The current guideline value of Teachers Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024. This area is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Teachers Nagar has changed

The guideline value of Teachers Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,400 per sq.ft in 2012, marking a rise of 180%. However, the value then decreased to Rs 938 per sq.ft in 2017, a drop of 33%. The most recent revisions show a substantial increase, with the value rising to Rs 1,400 per sq.ft in 2023 and then to Rs 1,500 per sq.ft in 2024, reflecting a 7% increase.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, leading to an overall increase of 200% from the 2007 revision to the current value in 2024.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 8,600 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Teachers Nagar is below this median.

• Thilagar Nagar: Rs 1,900 per sq.ft (2024)
• Sudhanthirapuram: Rs 2,150 per sq.ft (2024)
• Subramaniyam Nagar: Rs 1,500 per sq.ft (2024)
• Thiruchinaguppam Road: Rs 2,800 per sq.ft (2024)
• Thirumalai Avenue: Rs 3,700 per sq.ft (2024)
• Thirunagar: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty at 7% would amount to Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total cost for these fees to Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Nagar?

The Sub Registrar Office covering Teachers Nagar is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Thiruvottiyur. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded at a fair value as per the government regulations.

When a property is sold, the buyer and seller must consider the guideline value to calculate the applicable stamp duty and registration fees. This ensures that all transactions are compliant with local regulations and that the government receives the necessary revenue from property transactions.

Frequently asked questions

What is the current guideline value of Teachers Nagar?

The current guideline value of Teachers Nagar is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2024, reflecting an overall increase of 200% over the years.

What is the stamp duty rate for properties in Teachers Nagar?

The stamp duty rate for properties in Teachers Nagar is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What other streets have guideline values in Thiruvottiyur?

Other streets in Thiruvottiyur include Thilagar Nagar at Rs 1,900 per sq.ft, Sudhanthirapuram at Rs 2,150 per sq.ft, and Subramaniyam Nagar at Rs 1,500 per sq.ft, among others.