Guideline Value for Teachers Colony

Teachers Colony guideline value

The current guideline value of Teachers Colony in Mannivakkam village is Rs 990 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Teachers Colony has changed

The guideline value for Teachers Colony has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. This increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a 260% rise. However, in the 2017 revision, the value decreased to Rs 603 per sq.ft, reflecting a decline of 33%. The 2023 revision saw a substantial increase to Rs 900 per sq.ft, followed by another rise to Rs 990 per sq.ft in the 2024 revision, which is a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 296%.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. The guideline values have fluctuated significantly over the years, reflecting various changes in the real estate landscape.

Guideline values in Mannivakkam

Mannivakkam village has a total of 118 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in the village is Rs 1,215 per sq.ft, placing Teachers Colony's 2024 figure below this median.

• S.V. Nagar: Rs 770 per sq.ft (2024)
• Sun Ville: Rs 3,450 per sq.ft (2024)
• Sunshine Nagar: Rs 1,100 per sq.ft (2024)
• Thangavel Nagar: Rs 1,320 per sq.ft (2024)
• Sundar Nagar Extn: Rs 1,320 per sq.ft (2024)
• Sundar Nagar: Rs 1,320 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 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, making the total charges Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony?

The Teachers Colony area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mannivakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, it is essential to be aware of the guideline value as it influences the overall cost of the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Teachers Colony?

The current guideline value of Teachers Colony is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 296% over the years.

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

For a 1,000 sq.ft property at the current guideline value, the stamp duty would be Rs 69,300 and the registration fee would be Rs 19,800, totaling Rs 89,100.

Which Sub Registrar Office covers Teachers Colony?

The Gooduvancheri Sub Registrar Office covers Teachers Colony, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It acts as a benchmark to ensure that the government collects the appropriate revenue from property sales.