Guideline Value for Teacher's Colony 7th Cross Street

Teacher's Colony 7th Cross Street guideline value

The current guideline value of Teacher's Colony 7th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kodungaiyur village under the Madhavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Teacher's Colony 7th Cross Street has changed

The guideline value for Teacher's Colony 7th Cross Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest revision in 2024 raised it further to Rs 2,700 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 marks an increase of 8%. Overall, from the 2012 revision to the 2024 revision, 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

Kodungaiyur has a total of 1,318 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Teacher's Colony 7th Cross Street.

• Teacher's Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 6th Cross Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 8th Cross Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 5th Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 5th Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Teacher's Colony 7th Cross Street

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 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. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Teacher's Colony 7th Cross Street?

The Madhavaram Sub Registrar Office covers Teacher's Colony 7th Cross Street. The office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kodungaiyur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the necessary revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Teacher's Colony 7th Cross Street?

The current guideline value of Teacher's Colony 7th Cross 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 changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Teacher's Colony 7th Cross Street?

Teacher's Colony 7th Cross Street is classified as Residential Class I Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Kodungaiyur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. The current rate for stamp duty is 7%, and the registration fee is 2% of the guideline value.