Guideline Value for Teachers Colony New Street

Teachers Colony New Street guideline value

The current guideline value of Teachers Colony New Street is Rs 2,800 per sq.ft. This street is located in Ambattur village, under the Ambattur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Teachers Colony New Street has changed

The guideline value for Teachers Colony New Street has undergone several revisions over the years. The earliest available figure is from 2012, where the value was Rs 2,600 per sq.ft. In 2017, the value decreased to Rs 1,742 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,600 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,800 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value in this area is Rs 3,600 per sq.ft, placing Teachers Colony New Street's 2024 figure below that median.

• Teachers Colony Nehru Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Ramar Koil Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thalapathi Stalin Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thiru.vi.ka Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Main Road: Rs 2,800 per sq.ft (2024)
• Teachers Colony Kalavai Street (canal St.): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony New Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, these fees would total Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony New Street?

The Sub Registrar Office that covers Teachers Colony New Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Ambattur. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration. Buyers should be aware that the guideline value or the sale price, whichever is higher, will be used to calculate these fees.

When a property is sold, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. This helps maintain transparency in property transactions in the region.

Frequently asked questions

What is the current guideline value of Teachers Colony New Street?

The current guideline value of Teachers Colony New Street is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,600 per sq.ft in 2023 to Rs 2,800 per sq.ft in 2024, an increase of 8%. It was Rs 1,742 per sq.ft in 2017 and Rs 2,600 per sq.ft in 2012, indicating fluctuations in value over the years.

What is the land classification for Teachers Colony New Street?

Teachers Colony New Street is classified as Residential Class II Type - II, which is relevant for determining the usage and potential development of the land.

Where can I find the Sub Registrar Office for Teachers Colony New Street?

The Sub Registrar Office for Teachers Colony New Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 28,00,000 would incur a stamp duty of Rs 1,96,000 at a rate of 7%.