Guideline Value for Teachers Colony 1st Cross Street

Teachers Colony 1st Cross Street guideline value

The current guideline value of Teachers Colony 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Teachers Colony 1st Cross Street has changed

The guideline value for Teachers Colony 1st Cross Street has seen several revisions over the years. The earliest recorded revision was in 2007, when the value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% increase. The value remained unchanged at Rs 2,500 per sq.ft until the 2023 revision, which set it at Rs 2,500 per sq.ft again. The most recent revision in 2024 increased the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2017 for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO, with guideline values ranging from Rs 2,200 to Rs 6,000 per sq.ft as per the 2024 revision. The median value for these streets is Rs 3,300 per sq.ft, placing Teachers Colony 1st Cross Street's 2024 figure below this median.

• Teachers Colony 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Teacher Colony Extension (Ubathiyar Colony): Rs 2,700 per sq.ft (2024)
• Teachers Colony 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony Main Road: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony 1st 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, totaling Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Teachers Colony 1st Cross Street?

The Teachers Colony 1st Cross Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any discrepancies during registration. This ensures that the correct amount of stamp duty is paid based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Teachers Colony 1st Cross Street?

The current guideline value of Teachers Colony 1st 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 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 170% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 2,700 per sq.ft in 2024 include Teachers Colony 2nd Cross Street, Teacher Colony Extension (Ubathiyar Colony), Teachers Colony 3rd Cross Street, and Teachers Colony 4th Cross Street.

What is the stamp duty rate for properties in Teachers Colony 1st Cross Street?

The stamp duty rate for properties in Teachers Colony 1st Cross Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Teachers Colony 1st Cross Street?

The Sub Registrar Office covering Teachers Colony 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.