Guideline Value for BIG STREET (CHEN)

Big Street (Chen) guideline value

The current guideline value of Big Street (Chen) is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of Big Street (Chen) has changed

In the 2012 revision, the guideline value was Rs 700 per sq.ft. This figure remained the same until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 700 per sq.ft in the 2023 revision, followed by a further increase to Rs 770 per sq.ft in the 2024 revision, which represents a 10% rise from the previous year.

When looking at the overall changes, from 2012 to 2024, the guideline value has increased by 10%. The most notable change occurred between 2017 and 2023, where the value rose by 49%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 3,285 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Big Street (Chen) below that median.

• Bhavani Nagar (Chen): Rs 770 per sq.ft (2024)
• Chenkundram Road (Chen): Rs 1,100 per sq.ft (2024)
• Chenkundram Tnhb (Chen): Rs 1,320 per sq.ft (2024)
• Bajanai Koil Street (Chen): Rs 660 per sq.ft (2024)
• Ats Twin Avenue Phase-II: Rs 660 per sq.ft (2024)
• Ats Twin Avenue Phase-I: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Big Street (Chen)

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total charges to Rs 69,300. It is important to note that 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 Big Street (Chen)?

The Sub Registrar Office that covers Big Street (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sengundram - 1. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is documented accurately according to the prevailing rates.

When a property is sold, the guideline value helps determine the minimum value at which the property can be registered. This value is essential for both buyers and sellers to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Big Street (Chen)?

The current guideline value of Big Street (Chen) is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Big Street (Chen)?

Big Street (Chen) is classified as Residential Class I Type - II under the Chengleput Joint II SRO.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles the registration for Big Street (Chen)?

The Chengleput Joint II Sub Registrar Office handles the registration for Big Street (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.