Guideline Value for CHELLIAMMAN NAGAR

Chelliamman Nagar guideline value

The current guideline value of Chelliamman Nagar is Rs 715 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village, under the Madurandakam SRO, and is classified as Commercial Class I Type - III.

How the guideline value of Chelliamman Nagar has changed

The guideline value for Chelliamman Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 650 per sq.ft, which remained unchanged until the next revision in 2017, when it decreased to Rs 435 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 650 per sq.ft in 2023, and further rose to Rs 715 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing the guideline value of Chelliamman Nagar below this median.

• Chinna Colony Sengunthar Pettai: Rs 660 per sq.ft (2024)
• Car Steet: Rs 1,110 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 660 per sq.ft (2024)
• Dharamaraja Koil Street: Rs 1,110 per sq.ft (2024)
• Dr.ABDULKALAM NAGAR EXTENSION: Rs 770 per sq.ft (2024)
• Barani Nagar: Rs 1,110 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 715 per sq.ft, the total guideline value would be Rs 7,15,000. The stamp duty at 7% would amount to Rs 50,050, and the registration fee at 2% would be Rs 14,300, bringing the total cost for these fees to Rs 64,350. It is important to note that the 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 Chelliamman Nagar?

The Sub Registrar Office that covers Chelliamman Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Mathuranthagam. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. The fees are calculated based on this value or the sale price, whichever is higher, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar?

The current guideline value of Chelliamman Nagar is Rs 715 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2012 to Rs 435 per sq.ft in 2017, then to Rs 650 per sq.ft in 2023, and finally to Rs 715 per sq.ft in 2024.

What is the land classification of Chelliamman Nagar?

Chelliamman Nagar is classified as Commercial Class I Type - III, which indicates its suitability for commercial activities.

Where can I find the Sub Registrar Office for Chelliamman Nagar?

The Sub Registrar Office for Chelliamman Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Chelliamman Nagar?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,15,000, the stamp duty would be Rs 50,050 at a rate of 7%.