Guideline Value for CHENGALVARAYAN STREET

Chengalvarayan Street guideline value

The current guideline value of Chengalvarayan Street is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Walajabad village, under the jurisdiction of the Walajabad SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chengalvarayan Street has changed

Over the years, the guideline value for Chengalvarayan Street has seen several revisions. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it was reduced to Rs 402 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 600 per sq.ft, which has remained constant through the 2024 revision.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, showing an overall change of 0% during this period.

Guideline values in Walajabad

In Walajabad, there are 196 streets under the Walajabad SRO, with guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 750 per sq.ft, placing Chengalvarayan Street's 2024 figure below this median.

• Chennasamy Nagar: Rs 750 per sq.ft (2024)
• Chetti Street: Rs 750 per sq.ft (2024)
• Chellaperumal Mudhali Street: Rs 750 per sq.ft (2024)
• Chinnakadaarumai Nayagam St: Rs 750 per sq.ft (2024)
• Chinnakadai Arulnathan Street: Rs 750 per sq.ft (2024)
• Chinnakadai Magimaidhas Forth Street: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalvarayan Street

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty, charged at 7%, would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total to Rs 54,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chengalvarayan Street?

The Sub Registrar Office that covers Chengalvarayan Street is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property transactions in Walajabad. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Chengalvarayan Street?

The current guideline value of Chengalvarayan Street is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft from 2012 to 2024, with a decrease to Rs 402 per sq.ft in 2017 before returning to Rs 600 per sq.ft in 2023.

What are the guideline values of other streets in Walajabad?

Other streets in Walajabad have guideline values ranging from Rs 400 to Rs 2,000 per sq.ft, with a median value of Rs 750 per sq.ft.

What are the stamp duty and registration fees for properties in Chengalvarayan Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a property valued at Rs 6,00,000, the total fees would amount to Rs 54,000.

Which office should I contact for property registration in Chengalvarayan Street?

The Walajabad Sub Registrar Office is responsible for property registration in Chengalvarayan Street, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.