Guideline Value for CHAMBER ROAD

Chamber Road guideline value

The current guideline value of Chamber Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Iyyappanthangal village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Chamber Road has changed

Over the years, the guideline value of Chamber Road has seen several revisions. The earliest recorded figure is from 2007, where it was Rs 300 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 400% increase. However, by 2017, the value dropped to Rs 1,005 per sq.ft, a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Chamber Road's 2024 figure below this median.

• Dhanalskhmi Nagar: Rs 2,750 per sq.ft (2024)
• Dhanalskhmi Nagar 1st Street: Rs 2,750 per sq.ft (2024)
• Dhanalskhmi Nagar 2nd Street: Rs 2,750 per sq.ft (2024)
• Dhanalskhmi Nagar 3rd Street: Rs 2,750 per sq.ft (2024)
• Dhanalskhmi Nagar Phase I: Rs 2,750 per sq.ft (2024)
• Dhanalskhmi Nagar Phase II: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chamber Road

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making a total of Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chamber Road?

The Sub Registrar Office that covers Chamber Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Iyyappanthangal. It determines the minimum value at which properties must be registered, ensuring that the government receives the appropriate stamp duty and registration fees. Buyers and sellers must consider this value to avoid any legal issues during the registration process.

When a property is sold, the guideline value serves as a benchmark for calculating the stamp duty and registration fees. This ensures that the transaction is transparent and that the government receives its due revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chamber Road?

The current guideline value of Chamber Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 450%.

What is the land classification for Chamber Road?

Chamber Road is classified as Residential Class IV Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Chamber Road?

The Sub Registrar Office for Chamber Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How is stamp duty calculated for properties in Iyyappanthangal?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at the rate of 7%.