Guideline Value for Teacher Street

Teacher Street guideline value

The current guideline value of Teacher Street in Padiyanallur village is Rs 770 per sq.ft, effective from 1 July 2024. The street falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Teacher Street has changed

The guideline value for Teacher Street has experienced several revisions over the years. The earliest recorded figure is from 2003, which was Rs 171 per sq.ft. This figure increased significantly to Rs 400 per sq.ft in 2007, marking a 134% rise. In 2012, the value reached Rs 700 per sq.ft, reflecting a 75% increase from the previous revision. However, it then decreased by 33% to Rs 469 per sq.ft in 2017. The next revision in 2023 saw a substantial increase to Rs 700 per sq.ft, followed by a further rise to Rs 770 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 350%. The register does not provide figures for the year 2002 for this street.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO with a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft. The median value is Rs 770 per sq.ft, which is the same as the guideline value for Teacher Street.

• Thangaiah Garden: Rs 660 per sq.ft (2024)
• Thilagar Street: Rs 770 per sq.ft (2024)
• Subramaniya Bharathiyar Street: Rs 770 per sq.ft (2024)
• Thiruppur Kumaran Street: Rs 660 per sq.ft (2024)
• Thiruvallur Nedunchalai (Upto Bridge): Rs 770 per sq.ft (2024)
• Thiruvalluvar Street: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher Street

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Teacher Street?

The Sub Registrar Office that covers Teacher Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Padiyanallur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps in determining the legal value of the property, which is essential for compliance with local regulations. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value for Teacher Street?

The current guideline value for Teacher Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 171 per sq.ft in 2003 to Rs 770 per sq.ft in 2024, reflecting an overall increase of 350% over this period.

What is the registration office for Teacher Street?

The registration office for Teacher Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for properties in Teacher Street?

Stamp duty for properties in Teacher Street is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 53,900 based on the current guideline value.

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

Other streets in Padiyanallur with similar guideline values include Thilagar Street, Subramaniya Bharathiyar Street, and Thiruvallur Nedunchalai (Upto Bridge), all valued at Rs 770 per sq.ft in 2024.