Guideline Value for Teacher Colony 1st Street

Teacher Colony 1st Street guideline value

The current guideline value of Teacher Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village under the Alandur SRO, and it falls under the Residential Class I Type - III land classification.

How the guideline value of Teacher Colony 1st Street has changed

The guideline value for Teacher Colony 1st Street has seen several revisions over the years. In 2002, the value was Rs 399 per sq.ft. This increased to Rs 455 per sq.ft in 2003, marking a change of +14%. The value continued to rise significantly, reaching Rs 900 per sq.ft in 2007, which was an increase of +98%. In 2012, the value was Rs 3,500 per sq.ft, reflecting a notable increase of +289%. However, it saw a decline to Rs 2,345 per sq.ft in 2017, a decrease of -33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by the current value of Rs 3,900 per sq.ft in 2024, which is an increase of +11%.

There are no figures available in the register for the years between the revisions listed above. Overall, from 2002 to 2024, the guideline value has increased by +877%.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,900 per sq.ft, which is equal to the current guideline value of Teacher Colony 1st Street.

• Teacher Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 6th Street: Rs 3,900 per sq.ft (2024)
• Thagoor Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Colony 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty, charged at 7%, would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000. Together, the total cost for stamp duty and registration would be Rs 3,51,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teacher Colony 1st Street?

The Sub Registrar Office that covers Teacher Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Adambakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value ensures that the transaction is recorded at a fair value as per the local regulations.

When you register a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Teacher Colony 1st Street?

The current guideline value of Teacher Colony 1st Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 399 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of +877% over the years.

What is the land classification of Teacher Colony 1st Street?

Teacher Colony 1st Street falls under the Residential Class I Type - III land classification.

What is the registration office for Teacher Colony 1st Street?

The registration office for Teacher Colony 1st Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is stamp duty calculated for properties in Teacher Colony 1st Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty and registration fee of Rs 3,51,000.