Guideline Value for Teachers Colony

Teachers Colony guideline value

The current guideline value of Teachers Colony, located in Pallipattu village under the Adayar SRO, is Rs 9,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Teachers Colony has changed

The guideline value for Teachers Colony has seen significant changes over the years. In 2002, the guideline value was Rs 868 per sq.ft, which increased to Rs 949 per sq.ft in 2003. Following this, the value surged to Rs 4,000 per sq.ft in 2007, marking a substantial increase of 321%. The value continued to rise, reaching Rs 8,500 per sq.ft in 2012, a 113% increase from the previous revision. However, from 2012 to 2017, the value decreased by 33% to Rs 5,695 per sq.ft. The value then increased to Rs 8,500 per sq.ft in 2023, followed by a further increase of 11% to the current rate of Rs 9,400 per sq.ft in 2024.

Overall, from 2002 to 2024, the guideline value has increased by 983%. The register has no figure for the years not mentioned in the revisions for this street.

Guideline values in Pallipattu

Pallipattu village has 72 streets under the Adayar SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft, with the median value being Rs 9,400 per sq.ft. The guideline value for Teachers Colony aligns with this median.

• Sri Ram Nagar Extension: Rs 4,400 per sq.ft (2024)
• Sri Ram Nagar: Rs 4,400 per sq.ft (2024)
• Thiruvengadam Street: Rs 7,700 per sq.ft (2024)
• Uthuman Road: Rs 3,300 per sq.ft (2024)
• Venkatarathinam 1st Cross Street: Rs 9,400 per sq.ft (2024)
• Venkatarathinam 2nd Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total charges to Rs 8,46,000. Duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers Colony?

The Sub Registrar Office that covers Teachers Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Pallipattu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per government regulations.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the state receives due revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of Teachers Colony?

The current guideline value of Teachers Colony is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 868 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, marking an overall increase of 983% over the years.

What is the land classification of Teachers Colony?

Teachers Colony is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Teachers Colony?

The Sub Registrar Office for Teachers Colony is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Teachers Colony?

Stamp duty for properties in Teachers Colony is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total charges would amount to Rs 8,46,000.