Guideline Value for Teacher Colony

Teacher Colony guideline value

The current guideline value of Teacher Colony, located in Palavanthangal village under the Alandur SRO, is Rs 4,400 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class I Type - II land classification.

How the guideline value of Teacher Colony has changed

The guideline value for Teacher Colony has seen several revisions over the years. The earliest recorded revision in 2007 set the value at Rs 1,250 per sq.ft. This figure increased significantly to Rs 4,000 per sq.ft in 2012, marking a substantial rise of 220%. However, in 2017, the value decreased to Rs 2,680 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 4,000 per sq.ft in 2023, and most recently, it has increased to Rs 4,400 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 252%.

Guideline values in Palavanthangal

In Palavanthangal, there are 95 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,900 per sq.ft, placing Teacher Colony's current value above this median.

• Thilai Ganga Nagar 19th Street: Rs 4,400 per sq.ft (2024)
• Thillai Ganga Nagar 10th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 11th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 12th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 13th Street: Rs 3,900 per sq.ft (2024)
• Thillai Ganga Nagar 14th Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, charged at 7%, would be Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teacher Colony?

The Teacher Colony is covered by 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 Palavanthangal

The guideline value plays a crucial role during the registration of property transactions in Palavanthangal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is sold, the guideline value is used to calculate the applicable duties, ensuring that the transaction is recorded accurately. This helps in maintaining transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value of Teacher Colony?

The current guideline value of Teacher Colony is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 252% over the years.

What is the land classification of Teacher Colony?

Teacher Colony falls under the Residential Class I Type - II land classification.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Teacher Colony is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Alandur Sub Registrar Office located?

The Alandur Sub Registrar Office is located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.