Guideline Value for CHELLIAMMAN NAGAR

Chelliamman Nagar guideline value

The current guideline value of Chelliamman Nagar is Rs 880 per sq.ft, effective from 1 July 2024. This area is located in Koladi village and falls under the Chennai South Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Chelliamman Nagar has changed

The guideline value for Chelliamman Nagar has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 536 per sq.ft in 2017, reflecting a 33% drop. The value rose again to Rs 800 per sq.ft in 2023, before reaching the current value of Rs 880 per sq.ft in 2024, which is a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from the 2007 revision to the 2024 revision, there has been a substantial increase of 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Koladi

In Koladi village, there are 175 streets under the Chennai South Joint II SRO that have a 2024 guideline value ranging from Rs 660 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Chelliamman Nagar's 2024 guideline value is below this median.

• Devi Karumari Nagar: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 2nd Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 4th Cross Street: Rs 1,100 per sq.ft (2024)
• Devi Karumari Nagar 5th Cross Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, together totaling Rs 79,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chelliamman Nagar?

The Sub Registrar Office covering Chelliamman Nagar is the Chennai South Joint II 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 more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Koladi. It determines the stamp duty and registration fees applicable, ensuring that these costs are calculated based on the official valuation set by the government.

When a property is sold, the sale price or the guideline value, whichever is higher, will be used to calculate the stamp duty. This ensures that the government receives the appropriate fees based on the value of the transaction.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar?

The current guideline value of Chelliamman Nagar is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 880 per sq.ft in 2024, marking an overall increase of 340% since 2007.

What are the stamp duty and registration fees for property in Chelliamman Nagar?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 79,200, based on the current guideline value.

Which Sub Registrar Office covers Chelliamman Nagar?

The Chennai South Joint II Sub Registrar Office covers Chelliamman Nagar, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the classification of land in Chelliamman Nagar?

Chelliamman Nagar is classified as Residential Class II Type - II, indicating its zoning for residential use.