Guideline Value for CHAMBERS COLONY 11TH STREET EXTN

Chambers Colony 11th Street Extn guideline value

The current guideline value for Chambers Colony 11th Street Extn is Rs 3,300 per sq.ft, effective from 1 July 2024. This property 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 11th Street Extn has changed

The guideline value for this street has undergone several revisions over the years. The earliest recorded revision was in 2012, setting the value at Rs 3,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 2,010 per sq.ft. However, in the latest 2024 revision, the guideline value increased significantly to Rs 3,300 per sq.ft, marking a 64% rise from 2017.

From 2012 to 2017, there was a decrease of 33%, but overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is the same as the 2024 guideline value for Chambers Colony 11th Street Extn.

• Chambers Colony 1 To 11 Streets: 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 11th Street Extn

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, totaling 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 further assistance.

Which Sub Registrar Office covers Chambers Colony 11th Street Extn?

The Chambers Colony 11th Street Extn falls 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees during the transaction.

When a property is sold, the buyer is required to pay stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Chambers Colony 11th Street Extn?

The current guideline value of Chambers Colony 11th Street Extn 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 2012 to Rs 2,010 per sq.ft in 2017, and then increased to Rs 3,300 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the registration fee for a property in Chambers Colony 11th Street Extn?

The registration fee for a property is calculated at 2% of the guideline value. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000.

Which office handles the registration for Chambers Colony 11th Street Extn?

The Pallavaram Sub Registrar Office handles the registration for Chambers Colony 11th Street Extn, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the minimum value for property registration and is used to calculate applicable stamp duty and registration fees. It ensures that the government receives appropriate revenue from property transactions.