Guideline Value for Teachers Avenue

Teachers Avenue guideline value

The current guideline value of Teachers Avenue, located in Molachoor village under the Sunguvarchattram SRO, is Rs 600 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Teachers Avenue has changed

Over the years, the guideline value of Teachers Avenue has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was Rs 402 per sq.ft, marking a significant increase of 49% to Rs 600 per sq.ft in 2023. The register has no figures for the years 2002, 2003, and 2007 for this street.

With the 2024 revision, the guideline value remained stable at Rs 600 per sq.ft, reflecting no change from the previous year. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 600 per sq.ft.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value is Rs 600 per sq.ft, which is equal to the current guideline value of Teachers Avenue.

• Tank Street: Rs 300 per sq.ft (2024)
• Thamarai Nagar: Rs 800 per sq.ft (2024)
• Subramanianswami Kovil Street: Rs 600 per sq.ft (2024)
• St.Joseph Nagar: Rs 605 per sq.ft (2024)
• Sri Varasithi Vinayagar Nagar: Rs 1,269 per sq.ft (2024)
• Thiruvallur Road (Palkara Street To Arinjar Anna Street): Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Avenue?

The Sub Registrar Office that covers Teachers Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Teachers Avenue?

The current guideline value of Teachers Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a revision in 2017 setting it at Rs 402 per sq.ft and an increase to Rs 600 per sq.ft in 2023. There have been no changes between 2023 and 2024.

What is the land classification for Teachers Avenue?

The land classification for Teachers Avenue is Residential Special Type - III, indicating its designated use for residential purposes.

Where can I find the Sub Registrar Office for Teachers Avenue?

The Sub Registrar Office for Teachers Avenue is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated in Molachoor?

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