Guideline Value for CHEMMANCHERY ESTATE

Chemmanchery Estate guideline value

The current guideline value of Chemmanchery Estate, located in Chemmancheri village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - II land classification.

How the guideline value of Chemmanchery Estate has changed

Over the years, the guideline value of Chemmanchery Estate has seen several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 124% to reach Rs 3,000 per sq.ft. The most recent revision in 2024 raised the guideline value further by 10% to Rs 3,300 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 regarding this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 65%.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft, with a median value of Rs 1,700 per sq.ft. The guideline value for Chemmanchery Estate is above this median.

• Chemmenchery Thope: Rs 1,700 per sq.ft (2024)
• Chelliamman Koil Street: Rs 1,700 per sq.ft (2024)
• Cheran Street: Rs 1,700 per sq.ft (2024)
• Chinnadurai Garden: Rs 1,700 per sq.ft (2024)
• Chandra / Jothilakshmi 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 Chemmanchery Estate

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

For more information on the costs involved, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chemmanchery Estate?

The Chemmanchery Estate is covered by 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 is a crucial factor during the registration of property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees payable when a property is bought or sold.

Frequently asked questions

What is the current guideline value of Chemmanchery Estate?

The current guideline value of Chemmanchery Estate 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 from Rs 2,000 per sq.ft in 2012 to Rs 3,300 per sq.ft in 2024, with significant increases in 2023 and 2024 revisions.

What is the land classification for Chemmanchery Estate?

Chemmanchery Estate falls under the Residential Class I Type - II land classification.

Which Sub Registrar Office covers Chemmanchery Estate?

The Neelankarai Sub Registrar Office covers Chemmanchery Estate, 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 Chemmanchery?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current rate, the total stamp duty would be Rs 2,31,000.