Guideline Value for Teachers Gild Colony 2nd Street

Teachers Gild Colony 2nd Street guideline value

The current guideline value for Teachers Gild Colony 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Teachers Gild Colony 2nd Street has changed

Over the years, the guideline value for Teachers Gild Colony 2nd Street has seen several revisions. In 2007, the value was Rs 1,000 per sq.ft, which increased to Rs 3,000 per sq.ft in 2012, marking a significant rise of 200%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%. The value then increased substantially to Rs 3,000 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, which is equal to the guideline value of Teachers Gild Colony 2nd Street.

• Teachers Gild Colony 1st Street: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 3rd Street: Rs 3,300 per sq.ft (2024)
• Teachers Gild Colony 4th Street: Rs 3,300 per sq.ft (2024)
• Teachers Colony Main Road: Rs 3,300 per sq.ft (2024)
• Teachers Colony 4th Cross Street: Rs 2,700 per sq.ft (2024)
• Teachers Colony 3rd Cross Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Gild Colony 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that the 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 Gild Colony 2nd Street?

The Sub Registrar Office that covers Teachers Gild Colony 2nd Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Kolathur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it serves as a benchmark for the transaction. Buyers should be aware that the stamp duty and registration fees will be calculated based on the higher of the guideline value or the agreed sale price.

Frequently asked questions

What is the current guideline value for Teachers Gild Colony 2nd Street?

The current guideline value for Teachers Gild Colony 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 230%.

What is the land classification for Teachers Gild Colony 2nd Street?

The land classification for Teachers Gild Colony 2nd Street is Residential Class I Type - I, indicating its suitability for residential purposes.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for this area.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value results in total fees of Rs 2,97,000.