Guideline Value for CHAMBERS COLONY 1 TO 11 STREETS

Chambers Colony 1 To 11 Streets guideline value

The current guideline value for Chambers Colony 1 To 11 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Chambers Colony 1 To 11 Streets has changed

The guideline value for Chambers Colony 1 To 11 Streets has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision. The most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The changes between the revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the current value for Chambers Colony 1 To 11 Streets.

• Chambers Colony 11th Street Extn: Rs 3,300 per sq.ft (2024)
• Chambers Colony 7b Street: Rs 3,300 per sq.ft (2024)
• Chambers Colony Kothandam Nagar 1,2,3,4,5: Rs 3,300 per sq.ft (2024)
• Chandra Nagar: Rs 2,100 per sq.ft (2024)
• Chandrasekaran Street: Rs 3,850 per sq.ft (2024)
• Chavadi Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chambers Colony 1 To 11 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 accurate calculations based on your specific property details.

Which Sub Registrar Office covers Chambers Colony 1 To 11 Streets?

The Chambers Colony 1 To 11 Streets fall under the jurisdiction of the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When engaging in a property transaction, understanding the guideline value ensures that buyers and sellers are aware of the financial implications associated with registration. It is essential to refer to the latest revisions to ensure compliance with the current rates.

Frequently asked questions

What is the current guideline value for Chambers Colony 1 To 11 Streets?

The current guideline value for Chambers Colony 1 To 11 Streets is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification for Chambers Colony 1 To 11 Streets?

The land classification for Chambers Colony 1 To 11 Streets is Residential Class I Type - II.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering Chambers Colony 1 To 11 Streets is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.