Guideline Value for Teachers Colony 4th Cross Street

Teachers Colony 4th Cross Street guideline value

The current guideline value of Teachers Colony 4th Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Teachers Colony 4th Cross Street has changed

The guideline value for Teachers Colony 4th Cross Street has seen several revisions over the years. The earliest recorded revision is from 2007, where the guideline value was Rs 1,000 per sq.ft. This figure increased significantly to Rs 2,500 per sq.ft in 2012, marking a 150% rise. However, there was no change in the value from 2012 to 2023, which remained at Rs 2,500 per sq.ft. The most recent revision in 2024 has brought the guideline value to Rs 2,700 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that 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 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. Teachers Colony 4th Cross Street's 2024 figure is below this median.

• Teachers Colony 3rd 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)
• Teachers Colony Main Road: Rs 3,300 per sq.ft (2024)
• Teacher Colony Extension (Ubathiyar Colony): Rs 2,700 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 4th 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 is charged at 7%, resulting in Rs 1,89,000, while the registration fee at 2% amounts to Rs 54,000. Together, the total cost for these fees is 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 more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony 4th Cross Street?

The Sub Registrar Office that covers Teachers Colony 4th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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 is used to determine the stamp duty and registration fees that must be paid during the transaction. This ensures that the fees are calculated based on an official value, which helps maintain transparency in property transactions.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value for Teachers Colony 4th Cross Street?

The current guideline value for Teachers Colony 4th 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, reflecting an overall increase of 170%.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Teachers Colony 4th Cross Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Teachers Colony 4th Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Teachers Colony 4th Cross Street?

The land classification for Teachers Colony 4th Cross Street is Residential Class II Type - I.