Guideline Value for Teacher Colony 3rd Street

Teacher Colony 3rd Street guideline value

The current guideline value for Teacher Colony 3rd 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 3rd Street has changed

The guideline value for Teacher Colony 3rd Street has undergone several revisions over the years. The earliest recorded value was Rs 700 per sq.ft in 2007, which saw a significant increase to Rs 3,500 per sq.ft in 2012, marking a rise of 400%. However, this value decreased to Rs 2,345 per sq.ft in 2017, a drop of 33%. The value then increased sharply to Rs 3,500 per sq.ft in 2023, and further to Rs 3,900 per sq.ft in 2024, reflecting an increase of 11%.

There are no recorded figures for the years 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, illustrating a steady rise in recent years. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 457%.

Guideline values in Thalakanancherry

In Thalakanancherry, 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 3rd Street.

• Teacher Colony 1st Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 2nd 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 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 amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, totaling Rs 3,51,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teacher Colony 3rd Street?

The Sub Registrar Office covering 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 more information.

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

The guideline value is a crucial factor in property transactions in Thalakanancherry. It serves as a benchmark for determining the registration fees and stamp duty that need to be paid during the registration of property transactions. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is bought or sold, the guideline value helps establish the minimum price at which the property can be registered. This ensures that the government receives due taxes and fees based on the property's assessed value, thereby maintaining transparency in real estate transactions.

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 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, with significant increases and decreases in between, including a drop in 2017.

What is the land classification for Teacher Colony 3rd Street?

Teacher Colony 3rd Street is classified as Residential Class I Type - III under the Alandur SRO.

Where can I find the registration office for Teacher Colony 3rd Street?

The registration office for Teacher Colony 3rd 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 properties in this area?

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