Guideline Value for CHELLAPERUMAL STREET

Chellaperumal Street guideline value

The current guideline value of Chellaperumal Street is Rs 7,150 per sq.ft. This street is located in Thiruvanmiyur 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 Chellaperumal Street has changed

The guideline value for Chellaperumal Street has seen significant changes over the years. The earliest recorded figure is from 2002, where it was Rs 989 per sq.ft. This value increased to Rs 1,094 per sq.ft in 2003, marking an increase of 11%. Following this, the value rose to Rs 1,300 per sq.ft in 2007, which was a 19% increase. A substantial jump occurred in 2012, where the value reached Rs 6,500 per sq.ft, reflecting a remarkable 400% rise. However, by 2017, the value decreased to Rs 4,355 per sq.ft, indicating a decline of 33%. The value then increased again to Rs 6,500 per sq.ft in 2023, and most recently, it has risen to Rs 7,150 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 623%. There are no figures available for the revisions in the years not mentioned in the register for this street.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Chellaperumal Street's 2024 value below this median.

• Central Govt Employee Housing Colony: Rs 9,900 per sq.ft (2024)
• Canal Road (Canal Salai): Rs 7,150 per sq.ft (2024)
• Chitrakulath Street: Rs 7,150 per sq.ft (2024)
• Canal Bank Road: Rs 7,150 per sq.ft (2024)
• Cholapuram Street: Rs 7,150 per sq.ft (2024)
• Coastal Road: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Chellaperumal Street

For a 1,000 sq.ft plot at the current rate of Rs 7,150 per sq.ft, the guideline value amounts to Rs 71,50,000. The stamp duty at 7% would be Rs 5,00,500, and the registration fee at 2% would be Rs 1,43,000, totaling Rs 6,43,500. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chellaperumal Street?

The Sub Registrar Office that covers Chellaperumal Street 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 further assistance.

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

The guideline value is a crucial factor when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. This ensures that both buyers and sellers are aware of the financial obligations involved in the property transfer process.

When registering a property, the guideline value is considered to ensure compliance with legal requirements. It is essential for buyers to understand that the guideline value may differ from the actual sale price, and the higher amount will be used to calculate the applicable duties and fees.

Frequently asked questions

What is the current guideline value of Chellaperumal Street?

The current guideline value of Chellaperumal Street is Rs 7,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 989 per sq.ft in 2002 to Rs 7,150 per sq.ft in 2024, reflecting an overall increase of 623% over the years.

What is the land classification for Chellaperumal Street?

Chellaperumal Street is classified as Residential Class IV Type - I, indicating its suitability for residential developments.

Where can I find the Sub Registrar Office for Chellaperumal Street?

The Sub Registrar Office for Chellaperumal Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Thiruvanmiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, at the current guideline value, the stamp duty would be 7% of the guideline value.