Guideline Value for CHEMMENCHERY THOPE

Chemmenchery Thope guideline value

The current guideline value of Chemmenchery Thope is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is located in Chemmancheri village and falls under the Neelankarai SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Chemmenchery Thope has changed

The guideline value for Chemmenchery Thope has seen significant changes over the years. In 2007, the guideline value was Rs 50 per sq.ft, which dramatically increased to Rs 1,500 per sq.ft in 2012, marking a rise of 2900%. However, it then decreased to Rs 1,005 per sq.ft in 2017, a drop of 33%. The value continued to rise to Rs 1,500 per sq.ft in 2023, before reaching the current figure of Rs 1,700 per sq.ft in 2024, reflecting a 13% increase.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 3300%. The register has no figure for the years 2002 and 2003 for this street.

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. The median value is Rs 1,700 per sq.ft, which is equal to the current guideline value of Chemmenchery Thope.

• Chemmanchery Estate: Rs 3,300 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 Chemmenchery Thope

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, making the total amount 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 details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chemmenchery Thope?

The Sub Registrar Office that covers Chemmenchery Thope 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 information.

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 benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both parties adhere to the legal requirements set forth by the Registration Department. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Chemmenchery Thope?

The current guideline value of Chemmenchery Thope 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 50 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 3300% over the years.

What is the land classification for Chemmenchery Thope?

Chemmenchery Thope is classified as Residential Class IV Type - I.

Where is the Neelankarai Sub Registrar Office located?

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 Chemmenchery Thope?

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