Guideline Value for Teachers Chennai Fair Land

Teachers Chennai Fair Land guideline value

The current guideline value for Teachers Chennai Fair Land is Rs 300 per sq.ft, effective from 1 July 2024. This property is located in Malaipattu village under the Sunguvarchattram SRO, classified as Residential Special Type - II.

How the guideline value of Teachers Chennai Fair Land has changed

The guideline value for Teachers Chennai Fair Land has undergone several revisions over the years. The earliest recorded value was Rs 70 per sq.ft in 2007, which saw a significant increase to Rs 300 per sq.ft in 2012. However, this value dropped to Rs 201 per sq.ft in 2017. The subsequent revisions in 2023 and 2024 maintained the guideline value at Rs 300 per sq.ft, reflecting no change between these two years.

From 2007 to 2024, the overall increase in the guideline value is 329%. Specifically, the change from 2017 to 2023 was an increase of 49%, while the period from 2012 to 2017 saw a decrease of 33%. The 2007 to 2012 period experienced a remarkable increase of 329% as well.

Guideline values in Malaipattu

Malaipattu village has 36 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 150 to Rs 1,181 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Teachers Chennai Fair Land's 2024 figure above this median.

• Thambaram-Sriperumbudur Salai(Pazhavathamman kovil to Bustop): Rs 441 per sq.ft (2024)
• Thirumallai Nayakar Street: Rs 150 per sq.ft (2024)
• Sri Saravana Nagar: Rs 200 per sq.ft (2024)
• Thriuveethiamman Street: Rs 150 per sq.ft (2024)
• SriKumaran Nagar: Rs 300 per sq.ft (2024)
• Vignesh Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Chennai Fair Land

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total cost for these fees to Rs 27,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Chennai Fair Land?

The Teachers Chennai Fair Land falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

To find more information, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Malaipattu. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Teachers Chennai Fair Land?

The current guideline value of Teachers Chennai Fair Land is Rs 300 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 70 per sq.ft in 2007, increasing to Rs 300 in 2012, dropping to Rs 201 in 2017, and remaining at Rs 300 in 2023 and 2024.

What is the classification of the land in Teachers Chennai Fair Land?

The land classification for Teachers Chennai Fair Land is Residential Special Type - II, indicating its intended use for residential purposes.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering Teachers Chennai Fair Land is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000, leading to a stamp duty of Rs 21,000.