Guideline Value for Teachers Colony Earikarrai Street

Teachers Colony Earikarrai Street guideline value

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

The guideline value for Teachers Colony Earikarrai Street has undergone several revisions over the years. In 2012, the value was Rs 2,600 per sq.ft, which decreased to Rs 1,742 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 2,600 per sq.ft in 2023, and then further increased to Rs 2,800 per sq.ft in 2024, marking an 8% rise from the previous year.

From 2017 to 2023, the guideline value increased by 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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, with a median value of Rs 3,600 per sq.ft. The guideline value for Teachers Colony Earikarrai Street is below this median.

• Teachers Colony Anna Street: Rs 2,200 per sq.ft (2024)
• Teachers Colony Ambedkar Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Kalavai Street (canal St.): Rs 2,800 per sq.ft (2024)
• Teachers Colony Main Road: Rs 2,800 per sq.ft (2024)
• Teachers Colony Nehru Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony New Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony Earikarrai 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, charged at 7%, would amount to Rs 1,96,000, while the registration fee at 2% would be Rs 56,000. Thus, the total cost for these fees would be Rs 2,52,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Colony Earikarrai Street?

The Teachers Colony Earikarrai Street falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor in property transactions in Ambattur, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to be informed about the current guideline value to ensure compliance with local regulations and to avoid any disputes during the registration process. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

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

The current guideline value of Teachers Colony Earikarrai 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.

What is the land classification for Teachers Colony Earikarrai Street?

Teachers Colony Earikarrai Street is classified as Residential Class II Type - II.

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

The Ambattur Sub Registrar Office 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 in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 1,96,000 at the current guideline value.