Guideline Value for Teacher Colony 2nd Street

Teacher Colony 2nd Street guideline value

The current guideline value of Teacher Colony 2nd Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village under the Alandur SRO and is classified as Residential Class I Type - III.

How the guideline value of Teacher Colony 2nd Street has changed

The guideline value for Teacher Colony 2nd Street has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012, marking a 400% increase. However, it then dropped to Rs 2,345 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 3,500 per sq.ft in 2023, and the latest revision in 2024 sets it at Rs 3,900 per sq.ft, reflecting an increase of 11% from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen 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 village, there are 318 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 5,500 per sq.ft. The median value is Rs 3,900 per sq.ft, which is the same as the guideline value for Teacher Colony 2nd Street.

• Teacher Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 1st 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 2nd 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. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teacher Colony 2nd Street?

The Teacher Colony 2nd Street falls under the jurisdiction of 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 in the registration process when buying or selling property in Thalakanancherry. It serves as a reference point for determining the stamp duty and registration fees, ensuring that these charges are calculated fairly based on the property’s value.

When a property is registered, the guideline value is used to assess the applicable fees, which are based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Teacher Colony 2nd Street?

The current guideline value of Teacher Colony 2nd 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 significantly, increasing from Rs 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, which is an overall increase of 457%.

What is the land classification for Teacher Colony 2nd Street?

Teacher Colony 2nd Street is classified as Residential Class I Type - III.

Where can I find the Sub Registrar Office for Teacher Colony 2nd Street?

The Sub Registrar Office for Teacher Colony 2nd Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 at a rate of 7%.