Guideline Value for CHELLIAMMAN KOIL STREET

Chelliamman Koil Street guideline value

The current guideline value of Chelliamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Chemmancheri village, under the Neelankarai SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Chelliamman Koil Street has changed

The guideline value for Chelliamman Koil Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and finally, it rose to Rs 1,700 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, the guideline value saw a decrease of 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The most recent change from 2023 to 2024 reflects a growth of 13%. Overall, comparing the figures from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO with a guideline value for 2024 ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is the same as the guideline value for Chelliamman Koil Street.

• Chemmanchery Estate: Rs 3,300 per sq.ft (2024)
• Chemmenchery Thope: Rs 1,700 per sq.ft (2024)
• Cheran Street: Rs 1,700 per sq.ft (2024)
• Chandra / Jothilakshmi Garden: Rs 1,700 per sq.ft (2024)
• Chinnadurai Garden: Rs 1,700 per sq.ft (2024)
• Chinna Mathi Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total cost to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chelliamman Koil Street?

The Sub Registrar Office that covers Chelliamman Koil Street is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chemmancheri. It serves as a reference point for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Chelliamman Koil Street?

The current guideline value of Chelliamman Koil Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Chelliamman Koil Street?

Chelliamman Koil Street is classified as Residential Class IV Type - I.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Chemmancheri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 17,00,000, the stamp duty at 7% would be Rs 1,19,000.