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Guideline Value

Corporate

Guideline Value for Teacher's Colony 1st Street

₹2700/sq.ft.

The guideline value for Teacher's Colony 1st Street in Kodungaiyur village (Madhavaram SRO, Chennai zone) is Rs 2700 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 8% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Kodungaiyur

Village

Madhavaram

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹2700 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No.7, Roja Nagar,madhavaram, Chennai-600060
044-25530001
[email protected]

DRO (District Registrar Office)

Nsc Bose Road, Kuralagam First Floor, Esplaned Street, Chennai-108
044-25266212
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Teacher's Colony 1st Street

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Teacher's Colony 1st Street guideline value

The current guideline value of Teacher's Colony 1st Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Teacher's Colony 1st Street has changed

In the 2012 revision, the guideline value was Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following that, the value increased to Rs 2,500 per sq.ft in the 2023 revision, and most recently, it rose to Rs 2,700 per sq.ft in the 2024 revision.

From 2017 to 2023, there was a significant increase of 49%, while the change from 2012 to 2017 saw a decline of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the current guideline value of Teacher's Colony 1st Street.

Stamp duty and registration fee for property in Teacher's Colony 1st Street

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teacher's Colony 1st Street?

The Teacher's Colony 1st Street falls under the Madhavaram Sub Registrar Office located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is an essential figure used during property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the state receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Teacher's Colony 1st Street?

The current guideline value of Teacher's Colony 1st Street 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 seen various changes, starting from Rs 2,500 per sq.ft in 2012, decreasing to Rs 1,675 per sq.ft in 2017, and then increasing to Rs 2,500 per sq.ft in 2023. It has now risen to Rs 2,700 per sq.ft in 2024.

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

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000, and the registration fee is Rs 54,000, totaling Rs 2,43,000. These fees are based on the guideline value or sale price, whichever is higher.

Which office handles the registration for Teacher's Colony 1st Street?

The Madhavaram Sub Registrar Office handles the registration for Teacher's Colony 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What is the significance of the guideline value in property transactions?

The guideline value is crucial in property transactions as it determines the stamp duty and registration fees. Buyers must pay these fees based on the higher of the guideline value or the sale price to ensure proper revenue collection for the state.