Guideline Value for Teachers Colony 3rd Cross Street

Teachers Colony 3rd Cross Street guideline value

The current guideline value of Teachers Colony 3rd Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the jurisdiction of the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Teachers Colony 3rd Cross Street has changed

Looking back at the revisions, the guideline value for Teachers Colony 3rd Cross Street was Rs 1,000 per sq.ft in 2007. This increased significantly to Rs 2,500 per sq.ft in 2012, marking a change of 150%. The value remained unchanged at Rs 2,500 per sq.ft until the next revision in 2023, when it increased to Rs 2,700 per sq.ft, reflecting an 8% rise. The current value of Rs 2,700 per sq.ft is effective from 1 July 2024.

The register has no 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 that have 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 of Teachers Colony 3rd Cross Street is below this median.

• Teachers Colony 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 1st 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 3rd 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, while the registration fee at 2% would be Rs 54,000, making the total cost Rs 2,43,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Colony 3rd Cross Street?

The Sub Registrar Office that covers Teachers Colony 3rd 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 in the registration process when buying or selling property in Kolathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Teachers Colony 3rd Cross Street?

The current guideline value of Teachers Colony 3rd 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%.

What is the land classification for Teachers Colony 3rd Cross Street?

The land classification for Teachers Colony 3rd Cross Street is Residential Class II Type - I.

Where can I find the Sembiam Sub Registrar Office?

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

How is 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 property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.