Guideline Value for Teacher Colony 5th Street

Teacher Colony 5th Street guideline value

The current guideline value of Teacher Colony 5th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Thalakanancherry village, under the Alandur SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Teacher Colony 5th Street has changed

The guideline value for Teacher Colony 5th Street has seen significant changes over the years. In 2007, the guideline value was Rs 700 per sq.ft, which increased dramatically 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, representing a 33% drop. Following this, the value rose to Rs 3,500 per sq.ft in 2023, and then further increased to Rs 3,900 per sq.ft in 2024, an 11% increase.

There are no registered figures for Teacher Colony 5th Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 457%.

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 the same as the guideline value for Teacher Colony 5th Street.

• Teacher Colony 4th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 6th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 3rd Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 2nd Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 1st 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 5th 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. Together, the total cost for these fees 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 our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Teacher Colony 5th Street?

The Sub Registrar Office that covers Teacher Colony 5th 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 Thalakanancherry

The guideline value is a crucial factor when buying or selling property in Thalakanancherry. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transactions are transparent and reflect the current market conditions as per the registration department's guidelines.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This process helps in maintaining a standardized approach to property transactions within the area.

Frequently asked questions

What is the current guideline value of Teacher Colony 5th Street?

The current guideline value of Teacher Colony 5th Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 700 per sq.ft in 2007 to Rs 3,900 per sq.ft in 2024, marking an overall increase of 457% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000, and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles property registrations in Teacher Colony 5th Street?

The Alandur Sub Registrar Office is responsible for property registrations in Teacher Colony 5th Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification for Teacher Colony 5th Street?

Teacher Colony 5th Street is classified as Residential Class I Type - III, indicating its suitability for residential development.