Guideline Value for Tejraj colony

Tejraj colony guideline value

The current guideline value of Tejraj colony in Selaiyur village is Rs 1,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class III Type - II.

How the guideline value of Tejraj colony has changed

The guideline value for Tejraj colony has seen several revisions over the years. In 2007, the value was Rs 450 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017 before rising again to Rs 1,200 per sq.ft in 2023, and finally reaching Rs 1,300 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 reflects an 8% increase. Overall, from 2007 to 2024, the guideline value has increased by 189%, highlighting the changes in property valuation over the years.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Tejraj colony is below this median.

• Syed Vallal Yusuf Nagar: Rs 850 per sq.ft (2024)
• Suresh Nagar: Rs 1,300 per sq.ft (2024)
• Sundar Nagar Rajeswari Nagar Extn: Rs 1,300 per sq.ft (2024)
• Sundar Nagar: Rs 1,300 per sq.ft (2024)
• Sundareswarar Koil Street: Rs 2,200 per sq.ft (2024)
• Sundaram Smart City Phase I: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Tejraj colony

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tejraj colony?

The Tejraj colony falls under the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Selaiyur

The guideline value is a crucial factor when registering property in Selaiyur. It determines the minimum price at which a property can be registered, ensuring that the transaction is conducted at a fair value as per the government regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. These costs are based on the guideline value or the actual sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Tejraj colony?

The current guideline value of Tejraj colony is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 450 per sq.ft to Rs 1,300 per sq.ft in 2024, marking an overall increase of 189%.

What are the stamp duty rates for properties in Tejraj colony?

The stamp duty rate for properties in Tejraj colony is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the land classification of Tejraj colony?

Tejraj colony is classified as Residential Class III Type - II, indicating its designation for residential purposes.