Guideline Value for CHELLAMMAL THOTTAM

Chellammal Thottam guideline value

The current guideline value of Chellammal Thottam is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class V Type - III.

How the guideline value of Chellammal Thottam has changed

Over the years, the guideline value of Chellammal Thottam has seen significant changes. The earliest recorded value in the register is from 2002, at Rs 612 per sq.ft. This figure increased to Rs 680 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 1,540 per sq.ft in 2007, which represented a substantial 126% increase. By 2012, the value was Rs 3,000 per sq.ft, showing a 95% increase from the previous revision. However, it decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 439%. There are no revisions in the register for years other than those listed.

Guideline values in Mylapore

In Mylapore, there are 883 streets under the Mylapore SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft, with a median value of Rs 8,800 per sq.ft. Chellammal Thottam's current guideline value is below this median.

• Chavali Avenue: Rs 9,300 per sq.ft (2024)
• Chenkazhuneer Pilliayar Koil Street: Rs 11,000 per sq.ft (2024)
• Chandrabaugh Avenue 2nd Street: Rs 13,200 per sq.ft (2024)
• Chandrabaugh Avenue 1st Street: Rs 13,200 per sq.ft (2024)
• Chandrabaugh Avenue: Rs 13,200 per sq.ft (2024)
• Chandirasekaran Street: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Chellammal Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to 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 further calculations.

Which Sub Registrar Office covers Chellammal Thottam?

The Sub Registrar Office that covers Chellammal Thottam is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Mylapore. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of the transaction. Understanding how the guideline value is applied can help in making informed decisions during property dealings in Mylapore.

Frequently asked questions

What is the current guideline value of Chellammal Thottam?

The current guideline value of Chellammal Thottam 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 significantly from Rs 612 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 439%.

What is the stamp duty rate for properties in Chellammal Thottam?

The stamp duty rate for properties in Chellammal Thottam is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Chellammal Thottam located?

The Sub Registrar Office for Chellammal Thottam is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the land classification of Chellammal Thottam?

Chellammal Thottam is classified as Residential Class V Type - III.