Guideline Value for Teachers Colony 2nd Cross Street

Teachers Colony 2nd Cross Street guideline value

The current guideline value for Teachers Colony 2nd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Teachers Colony 2nd Cross Street has changed

The guideline value for Teachers Colony 2nd Cross Street has undergone several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft. This figure saw a significant increase in 2012, where it remained at Rs 2,500 per sq.ft. However, there was no change in the value from 2012 to 2023, which also recorded Rs 2,500 per sq.ft. The 2024 revision marked a rise to Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 170%. Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value for Teachers Colony 2nd Cross Street is below this median.

• Teachers Colony 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Teacher Colony Extension (Ubathiyar Colony): 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 2nd 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 amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to 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 2nd Cross Street?

The Sub Registrar Office that covers Teachers Colony 2nd Cross Street is 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 is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This ensures transparency and fairness in the property transaction process.

Frequently asked questions

What is the current guideline value for Teachers Colony 2nd Cross Street?

The current guideline value for Teachers Colony 2nd 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 stamp duty and registration fees for property in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Teachers Colony 2nd Cross Street?

Teachers Colony 2nd Cross Street is classified as Residential Class II Type - I.