Guideline Value for Teacher Colony 3rd Street

Teacher Colony 3rd Street guideline value

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

How the guideline value of Teacher Colony 3rd Street has changed

The guideline value for Teacher Colony 3rd Street has undergone several revisions over the years. The earliest recorded figure is from 2002, where the guideline value was Rs 399 per sq.ft. This increased to Rs 455 per sq.ft in 2003, marking a rise of 14%. The value then saw a significant increase to Rs 900 per sq.ft in 2007, which is an increase of 98%. In 2012, the guideline value was Rs 3,500 per sq.ft, reflecting a substantial jump of 289% from the previous revision. However, this figure 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, followed by the current value of Rs 3,900 per sq.ft from 2024, which represents an increase of 11%.

Overall, from 2002 to 2024, the guideline value has increased by 877%. The register has no figures for the years between 2012 to 2017 and 2023 to 2024 for this street.

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, with a median value of Rs 3,900 per sq.ft. Teacher Colony 3rd Street's 2024 figure aligns with this median.

• Teacher Colony 1st Street: Rs 3,900 per sq.ft (2024)
• 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 3rd 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 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 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 more information.

Which Sub Registrar Office covers Teacher Colony 3rd Street?

The Sub Registrar Office that covers Teacher Colony 3rd 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 further assistance.

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

The guideline value is a crucial factor during property transactions in Adambakkam. It is used to determine the stamp duty and registration fees applicable when a property is bought or sold. Buyers and sellers must be aware that the guideline value will influence the overall cost of the transaction.

When registering a property, the guideline value is considered to ensure that the transaction is recorded accurately. It serves as a benchmark for the value of properties in the area, helping to maintain transparency in property dealings.

Frequently asked questions

What is the current guideline value of Teacher Colony 3rd Street?

The current guideline value of Teacher Colony 3rd 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, representing an overall increase of 877% over the years.

What is the role of the Alandur SRO?

The Alandur SRO is responsible for registering property transactions in the area, including Teacher Colony 3rd Street. It ensures that all transactions are recorded accurately and in compliance with local regulations.

How is stamp duty calculated for properties in Teacher Colony 3rd 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 stamp duty of Rs 2,73,000.

Where can I find more information about stamp duty and registration fees?

For more information on stamp duty and registration fees, you can use the stamp duty and registration fee calculator available on the website.