Guideline Value for Teachers Colony Ramar Koil Street

Teachers Colony Ramar Koil Street guideline value

The current guideline value of Teachers Colony Ramar Koil 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 Ramar Koil Street has changed

The guideline value for Teachers Colony Ramar Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,600 per sq.ft, which was then decreased to Rs 1,742 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,600 per sq.ft in the 2023 revision, and finally, it rose to Rs 2,800 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, it increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 8% in the guideline value.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median value for these streets is Rs 3,600 per sq.ft, which means that the 2024 guideline value of Rs 2,800 per sq.ft for Teachers Colony Ramar Koil Street is below the median.

• Teachers Colony New Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thalapathi Stalin Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Nehru Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Thiru.vi.ka Street: Rs 2,800 per sq.ft (2024)
• Teachers Colony Main Road: 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 Ramar Koil 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 amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000, bringing the total to Rs 2,52,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Teachers Colony Ramar Koil Street?

The Sub Registrar Office that covers Teachers Colony Ramar Koil 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 further assistance.

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

The guideline value is a crucial factor when registering property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential to consider this value during negotiations and when calculating the costs associated with the transaction.

Frequently asked questions

What is the current guideline value of Teachers Colony Ramar Koil Street?

The current guideline value of Teachers Colony Ramar Koil 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, representing an 8% increase. It decreased from Rs 2,600 in 2012 to Rs 1,742 in 2017, and then increased to Rs 2,600 in 2023.

What is the land classification for Teachers Colony Ramar Koil Street?

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

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

The Sub Registrar Office for Teachers Colony Ramar Koil 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 properties in this area?

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