Guideline Value for Teachers Colony Nehru Street

Teachers Colony Nehru Street guideline value

The current guideline value of Teachers Colony Nehru 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 Nehru Street has changed

The guideline value for Teachers Colony Nehru Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,600 per sq.ft, which then decreased to Rs 1,742 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,600 per sq.ft, and the latest 2024 revision raised it further to Rs 2,800 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. However, from 2012 to 2017, the value dropped by 33%. Overall, comparing the figures from 2012 to 2024, there has been an increase of 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 have 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 of Teachers Colony Nehru Street is below this median.

• Teachers Colony New Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Ramar Koil Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Main Road: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thalapathi Stalin Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thiru.vi.ka Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Kalavai Street (canal St.): Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony Nehru 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 at 7% would be Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total fees together to 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. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony Nehru Street?

The Sub Registrar Office that covers Teachers Colony Nehru Street is 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 details.

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

The guideline value is a crucial factor when registering property in Ambattur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with the legal requirements of property transactions.

When a property is bought or sold, the guideline value is used to calculate the applicable fees. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of Teachers Colony Nehru 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, which is an 8% increase. The value was Rs 1,742 per sq.ft in 2017, showing a significant increase of 49% to the 2023 figure.

What is the land classification for Teachers Colony Nehru Street?

Teachers Colony Nehru Street is classified as Residential Class II Type - II, indicating its suitability for residential purposes.

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

The Sub Registrar Office covering Teachers Colony Nehru Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, if a property has a guideline value of Rs 28,00,000, the stamp duty at 7% would amount to Rs 1,96,000.