Guideline Value for Teachers Colony

Teachers Colony guideline value

The current guideline value for Teachers Colony in Serapanancheri village under the Padappai SRO is Rs 720 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Teachers Colony has changed

The guideline value for Teachers Colony has seen several revisions over the years. In 2012, the value was Rs 650 per sq.ft, which decreased to Rs 435 per sq.ft in 2017. Following this, the value increased significantly to Rs 650 per sq.ft in 2023, and then further rose to Rs 720 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%, followed by an 11% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Serapanancheri

In Serapanancheri, there are 53 streets under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 4,440 per sq.ft. The median value is Rs 720 per sq.ft, making the 2024 guideline value for Teachers Colony equal to this median.

• S.V.P Garden Extenstion - I: Rs 1,480 per sq.ft (2024)
• S.V.P.Garden: Rs 990 per sq.ft (2024)
• S.V.P.Avenue: Rs 990 per sq.ft (2024)
• Thennarasu Street: Rs 720 per sq.ft (2024)
• Thiruchendur Avenue: Rs 990 per sq.ft (2024)
• Sri Sastha Nagar: Rs 720 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Colony

For a 1,000 sq.ft plot at the current rate of Rs 720 per sq.ft, the guideline value amounts to Rs 7,20,000. The stamp duty at 7% would be Rs 50,400, and the registration fee at 2% would be Rs 14,400, bringing the total to Rs 64,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Teachers Colony?

The Sub Registrar Office that covers Teachers Colony is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

You can find your SRO for further assistance.

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

The guideline value is an essential factor in the registration process when buying or selling property in Serapanancheri. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

When you initiate a property transaction, the guideline value will be referenced to determine the applicable charges. This ensures transparency and helps in maintaining a standard valuation for properties in the area.

Frequently asked questions

What is the current guideline value for Teachers Colony?

The current guideline value for Teachers Colony is Rs 720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then increased to Rs 650 per sq.ft in 2023, and finally to Rs 720 per sq.ft in 2024.

What is the land classification for Teachers Colony?

Teachers Colony is classified as Residential Class I Type - I.

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

The Sub Registrar Office for Teachers Colony is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,20,000, the stamp duty would be Rs 50,400 at a rate of 7%.