Guideline Value for Teacher's Colony 8th Cross Street

Teacher's Colony 8th Cross Street guideline value

The current guideline value for Teacher's Colony 8th 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 8th Cross Street has changed

In the 2012 revision, the guideline value was set at Rs 2,500 per sq.ft. This figure decreased to Rs 1,675 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 2,700 per sq.ft, reflecting a rise of 61%. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%.

It is important to note that the register has no figure for Teacher's Colony 8th Cross Street for the years 2023, 2007, 2003, and 2002.

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, with a median value of Rs 2,700 per sq.ft. Teacher's Colony 8th Cross Street's 2024 guideline value aligns with this median.

• Teacher's Colony 7th Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 6th Street: Rs 2,700 per sq.ft (2024)
• Teacher's Colony 6th 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 8th 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 amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Teacher's Colony 8th Cross Street?

The Madhavaram Sub Registrar Office covers Teacher's Colony 8th Cross Street, 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 a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable on the transaction.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and reflects the current market conditions.

Frequently asked questions

What is the current guideline value of Teacher's Colony 8th Cross Street?

The current guideline value of Teacher's Colony 8th 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 2,700 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 8%.

Which office handles the registration for Teacher's Colony 8th Cross Street?

The Madhavaram Sub Registrar Office handles the registration for Teacher's Colony 8th Cross Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

What are the stamp duty rates applicable?

The stamp duty rate applicable is 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is also charged.

What is the land classification for Teacher's Colony 8th Cross Street?

Teacher's Colony 8th Cross Street is classified as Residential Class I Type - I under the Madhavaram SRO.