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 Thalakanancherry village under the Alandur SRO, classified as Residential Class I Type - III.

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. The earliest recorded figure is from 2007, which was Rs 700 per sq.ft. This increased significantly to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, followed by a further increase to the current rate of Rs 3,900 per sq.ft in 2024, representing an 11% increase.

From 2017 to 2023, the value increased by 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 457%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thalakanancherry

In Thalakanancherry, there are 318 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 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)
• Teligrap Colony: 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 amounts to Rs 39,00,000. The stamp duty at 7% would be Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, bringing the total to 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.

For further calculations, you can use the stamp duty and registration fee calculator.

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. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thalakanancherry. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

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 undergone several revisions, starting from Rs 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with notable changes occurring in 2012, 2017, and 2023.

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

Teacher Colony 1st Street is classified as Residential Class I Type - III under the Alandur SRO.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is 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 guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 3,900 per sq.ft incurs a stamp duty of Rs 2,73,000.