Guideline Value for Teacher Colony 6th Street

Teacher Colony 6th Street guideline value

The current guideline value of Teacher Colony 6th Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Adambakkam village, under the Alandur SRO, and is classified as Residential Class I Type - III.

How the guideline value of Teacher Colony 6th Street has changed

The guideline value for Teacher Colony 6th Street has seen several revisions over the years. In 2002, the guideline value was Rs 352 per sq.ft. This figure increased to Rs 402 per sq.ft in 2003, marking a 14% rise. By 2007, the value surged to Rs 900 per sq.ft, reflecting a significant increase of 124%. The 2012 revision saw the value remain at Rs 3,500 per sq.ft, with no change noted for this street in that year. However, in 2017, the guideline value dropped to Rs 2,345 per sq.ft, a decrease of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, followed by a further increase to Rs 3,900 per sq.ft in 2024, which is an 11% rise.

Overall, from 2002 to 2024, the guideline value has increased by 1008%. The revisions from 2017 to 2023 and from 2023 to 2024 indicate significant fluctuations in the guideline value over time.

Guideline values in Adambakkam

In Adambakkam, there are 569 streets under the Alandur SRO that carry a guideline value for 2024, ranging from Rs 2,800 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,900 per sq.ft, which is equal to the current figure for Teacher Colony 6th Street. Below are the guideline values for other streets in Adambakkam:

• Teacher Colony 5th Street: Rs 3,900 per sq.ft (2024)
• Teacher Colony 4th 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)
• Thagoor Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Colony 6th 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, bringing the total fees together 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 more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teacher Colony 6th Street?

The Sub Registrar Office covering Teacher Colony 6th 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 Adambakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Adambakkam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these fees are based on a standardized value rather than the negotiated sale price.

When a property transaction occurs, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Teacher Colony 6th Street?

The current guideline value of Teacher Colony 6th 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 several times, from Rs 352 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting an overall increase of 1008% over the years.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, while the registration fee is charged at 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Teacher Colony 6th Street located?

The Sub Registrar Office for Teacher Colony 6th Street is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

How is the guideline value determined for properties in Adambakkam?

The guideline value for properties in Adambakkam is determined by the Registration Department and varies based on the location, land classification, and other factors. It is updated periodically to reflect changes in the property market.