Guideline Value for Teachers Colony

Teachers Colony guideline value

The current guideline value of Teachers Colony in Nenmeli village, under the Chengleput Joint I SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area falls under Residential Class I Type - I land classification.

How the guideline value of Teachers Colony has changed

The guideline value for Teachers Colony has seen several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which increased to Rs 500 per sq.ft in 2012, marking a 100% increase. However, it dropped to Rs 335 per sq.ft in 2017, a decrease of 33%. The value then remained stable at Rs 500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 100%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nenmeli

In Nenmeli village, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 612 per sq.ft. The guideline value for Teachers Colony is below this median.

• Teachers Colony Ext: Rs 550 per sq.ft (2024)
• Teachers colony Extension-II: Rs 600 per sq.ft (2024)
• Thangaraj Avenue: Rs 800 per sq.ft (2024)
• Thangaraj City: Rs 800 per sq.ft (2024)
• Thangaraj City Extension: Rs 800 per sq.ft (2024)
• S.S.Garden Phase-I: Rs 1,045 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony

For a 1,000 sq.ft plot in Teachers Colony at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees to Rs 45,000. It is important to note that 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?

The Teachers Colony area is covered by the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Nenmeli, as it determines the minimum value 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 required during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it influences the overall costs associated with property transactions. Ensuring that the property is registered at or above the guideline value is necessary to comply with local regulations.

Frequently asked questions

What is the current guideline value of Teachers Colony?

The current guideline value of Teachers Colony is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with a significant increase from Rs 250 per sq.ft in 2007 to Rs 500 per sq.ft in 2012, and it has remained at Rs 500 per sq.ft since 2023.

What is the land classification of Teachers Colony?

Teachers Colony falls under the Residential Class I Type - I land classification, indicating its suitability for residential development.

What are the stamp duty and registration fees for property in Teachers Colony?

The stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 45,000.

Which office handles registrations for Teachers Colony?

The Chengleput Joint I Sub Registrar Office handles registrations for Teachers Colony, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.