Guideline Value for Teachers Garden

Teachers Garden guideline value

The current guideline value of Teachers Garden in Vilangadupakkam village is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Teachers Garden has changed

The guideline value for Teachers Garden has seen several revisions over the years. The earliest recorded figure is Rs 200 per sq.ft from the 2007 revision. This increased to Rs 400 per sq.ft in 2012, then decreased to Rs 268 per sq.ft in 2017. Following this, the value significantly rose to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, the changes between revisions are as follows: from 2007 to 2012, the value increased by 100%, then decreased by 33% from 2012 to 2017. It subsequently increased by 49% from 2017 to 2023, and finally, there was a 10% increase from 2023 to 2024. There are no figures available for the years 2002 and 2003 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam, there are 160 streets under the Redhills SRO, with guideline values ranging from Rs 365 to Rs 1,792 per sq.ft. The median guideline value is Rs 440 per sq.ft, which is equal to the current value of Teachers Garden.

• Teachers Garden Extn.: Rs 440 per sq.ft (2024)
• Thanjai Nagar Extention: Rs 440 per sq.ft (2024)
• Thanjai Sengunthar Nagar: Rs 440 per sq.ft (2024)
• Sudha Ranganathan Nagar: Rs 440 per sq.ft (2024)
• Thirumagal Nagar: Rs 480 per sq.ft (2024)
• Thirumathi. Sonia Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 details.

Which Sub Registrar Office covers Teachers Garden?

The Sub Registrar Office that covers Teachers Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for additional information.

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

The guideline value is a crucial factor when registering property transactions in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and reflects the current market conditions as per the official register. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Teachers Garden?

The current guideline value of Teachers Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Teachers Garden?

The registration office for Teachers Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in Teachers Garden?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the guideline value of Rs 4,40,000, the stamp duty would be Rs 30,800.

What is the land classification of Teachers Garden?

Teachers Garden is classified as Residential Class III Type - I, which indicates its use for residential purposes.