Guideline Value for CHANDRA STREET

Chandra Street guideline value

The current guideline value of Chandra Street in Nemilicherry village is Rs 2,160 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Chandra Street has changed

The guideline value for Chandra Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,160 per sq.ft, an increase of 8% from Rs 2,000 per sq.ft in 2023. The value has increased significantly from Rs 1,340 per sq.ft in 2017, marking a 49% rise over six years. In contrast, the value decreased from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, a reduction of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%.

The register has no figures for Chandra Street from the years 2002, 2003, and 2007. The 2012 revision recorded a guideline value of Rs 2,000 per sq.ft. The changes reflect the dynamic nature of property valuation in the area.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with the median value being Rs 2,160 per sq.ft. Chandra Street's 2024 guideline value aligns perfectly with this median.

• Cheran Street: Rs 2,160 per sq.ft (2024)
• Chidhambaram Street: Rs 2,750 per sq.ft (2024)
• Chinna 1st Street: Rs 2,160 per sq.ft (2024)
• Chinna 2nd Street: Rs 2,160 per sq.ft (2024)
• Chozan Street: Rs 2,160 per sq.ft (2024)
• Brahmin Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty at 7% would amount to Rs 1,51,200, while the registration fee at 2% would be Rs 43,200, making the total cost of duty and fees Rs 1,94,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chandra Street?

The Sub Registrar Office that covers Chandra Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Nemilicherry, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the guideline value is used to calculate applicable stamp duty and registration fees, which are essential costs associated with property transactions. Therefore, understanding the guideline value is important for both buyers and sellers in the area.

Frequently asked questions

What is the current guideline value of Chandra Street?

The current guideline value of Chandra Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2023 to Rs 2,160 per sq.ft in 2024, reflecting an 8% increase. It was Rs 1,340 per sq.ft in 2017, which shows a 49% increase since then.

What is the classification of Chandra Street?

Chandra Street is classified as Residential Class II Type - I under the Pallavaram SRO.

Where can I find the registration office for Chandra Street?

The registration office for Chandra Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Chandra Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 1,51,200.