Guideline Value for Teacher Colony Extension (Ubathiyar Colony)

Teacher Colony Extension (Ubathiyar Colony) guideline value

The current guideline value for Teacher Colony Extension (Ubathiyar Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Class II Type - I.

How the guideline value of Teacher Colony Extension (Ubathiyar Colony) has changed

The guideline value for Teacher Colony Extension has seen several revisions over the years. In 2007, the guideline value was set at Rs 1,000 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in both the 2012 and 2023 revisions. The most recent revision in 2024 raised the guideline value to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 170%. Notably, there are no figures available for the years 2002, 2003, and 2017 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with a 2024 guideline value range from Rs 2,200 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 3,300 per sq.ft, which means that the guideline value for Teacher Colony Extension is below this median.

• Teachers Colony 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony Main Road: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Colony Extension (Ubathiyar Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty is charged at 7%, amounting to Rs 1,89,000, and the registration fee is 2%, which totals Rs 54,000. Therefore, the total cost for stamp duty and registration fees together would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teacher Colony Extension (Ubathiyar Colony)?

The Sub Registrar Office that covers Teacher Colony Extension is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Kolathur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When a property is sold, the guideline value ensures that the government receives appropriate revenue from the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value for Teacher Colony Extension?

The current guideline value for Teacher Colony Extension (Ubathiyar Colony) is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an increase of 170% over the years.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with a guideline value of Rs 2,700 per sq.ft include Teachers Colony 1st Cross Street, 2nd Cross Street, 3rd Cross Street, and 4th Cross Street.

What is the registration fee for property transactions in Teacher Colony Extension?

The registration fee for property transactions in Teacher Colony Extension is 2% of the guideline value. For example, on a property valued at Rs 27,00,000, the registration fee would be Rs 54,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in Teacher Colony Extension.