Guideline Value for Teachers colony Extension-II

Teachers colony Extension-II guideline value

The current guideline value of Teachers colony Extension-II in Nenmeli village is Rs 600 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint I SRO and is classified as Mixed Type - III land.

How the guideline value of Teachers colony Extension-II has changed

Over the years, the guideline value of Teachers colony Extension-II has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was Rs 402 per sq.ft, marking a significant increase of 49% to Rs 600 per sq.ft in 2023. The 2024 revision has maintained this figure, indicating a 0% change from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has remained stable at Rs 600 per sq.ft. This consistency reflects the current market conditions in the area.

Guideline values in Nenmeli

In Nenmeli, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median value for these streets is Rs 612 per sq.ft, placing the guideline value of Teachers colony Extension-II below this median.

• Teachers Colony Ext: Rs 550 per sq.ft (2024)
• Teachers Colony: Rs 500 per sq.ft (2024)
• Thangaraj Avenue: Rs 800 per sq.ft (2024)
• Thangaraj City: Rs 800 per sq.ft (2024)
• Thangaraj City Extension: Rs 800 per sq.ft (2024)
• S.S.Garden Phase-I: Rs 1,045 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers colony Extension-II

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Teachers colony Extension-II?

The Chengleput Joint I Sub Registrar Office covers Teachers colony Extension-II. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Nenmeli, as it determines the minimum value at which properties can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations and to accurately calculate related fees.

When a property is sold, the guideline value is used to assess the stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Teachers colony Extension-II?

The current guideline value of Teachers colony Extension-II is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a notable increase from Rs 402 per sq.ft in 2017 to Rs 600 per sq.ft in 2023. There were no figures available for the years 2002, 2003, and 2007.

What are the other streets in Nenmeli and their guideline values?

Other streets in Nenmeli include Teachers Colony Ext at Rs 550 per sq.ft, Teachers Colony at Rs 500 per sq.ft, and several others ranging up to Rs 1,045 per sq.ft for S.S.Garden Phase-I.

How is stamp duty calculated for properties in Teachers colony Extension-II?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 at a rate of 7%.

Where can I find the Sub Registrar Office for Teachers colony Extension-II?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information about your SRO through the provided link.