Guideline Value for Teachers Guild Colony

Teachers Guild Colony guideline value

The current guideline value of Teachers Guild Colony, located in Konnur village under the Konnur SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Teachers Guild Colony has changed

The guideline value for Teachers Guild Colony has undergone several revisions over the years. The earliest recorded revision was in 2002, with a guideline value of Rs 298 per sq.ft. This figure increased to Rs 323 per sq.ft in 2003, marking an 8% rise. Following this, the value saw a significant jump to Rs 1,500 per sq.ft in 2007, which was a 364% increase. In 2012, the value adjusted to Rs 5,000 per sq.ft, reflecting a decrease of 33% from the previous revision. The subsequent revision in 2017 set the value at Rs 3,350 per sq.ft, which was a 49% increase from 2012. In 2023, the guideline value rose to Rs 5,000 per sq.ft, and the most recent revision in 2024 brought it to Rs 5,500 per sq.ft, a 10% increase.

Overall, from the 2002 revision to the current 2024 figure, the guideline value has increased by 1,746%. There are no figures for any other years in the register for this street.

Guideline values in Konnur

In Konnur village, there are 249 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 7,100 per sq.ft, with a median value of Rs 3,800 per sq.ft. The guideline value for Teachers Guild Colony is above this median.

• Thaiyallu Nagar: Rs 5,500 per sq.ft (2024)
• Thakoor Street: Rs 3,800 per sq.ft (2024)
• Thallunkinaru Street: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar Eighth Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar Fifth Cross Street & Street: Rs 3,800 per sq.ft (2024)
• Therku Jaganatha Nagar First Cross Street & Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Guild Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. 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 Guild Colony?

The Sub Registrar Office that covers Teachers Guild Colony is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

When buying or selling property in Konnur, the guideline value plays a crucial role during the registration process. It serves as a benchmark for determining the applicable stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to accurately estimate the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Teachers Guild Colony?

The current guideline value of Teachers Guild Colony is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 298 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, showing a significant increase of 1,746% over this period.

What is the land classification for Teachers Guild Colony?

The land classification for Teachers Guild Colony is Residential Class I Type - I.

Where can I find the Konnur Sub Registrar Office?

The Konnur Sub Registrar Office is located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property with a guideline value of Rs 55,00,000 would incur a stamp duty of Rs 3,85,000 at a rate of 7%.