Guideline Value for CHENNAI METRO CITY PHASE I

Chennai Metro City Phase I guideline value

The current guideline value for Chennai Metro City Phase I is Rs 600 per sq.ft, effective from 1 July 2024. This property is located in Kolathur village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Chennai Metro City Phase I has changed

Since the register has no figure for this street in the years 2002, 2003, 2007, 2012, and 2017, the most recent revisions are from 2023 and 2024. Both years show a guideline value of Rs 600 per sq.ft, indicating no change between the 2023 and 2024 revisions, which reflects a 0% change.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft. The median for these streets is Rs 600 per sq.ft, placing Chennai Metro City Phase I at this median value.

• Chennai Metro City Phase II: Rs 600 per sq.ft (2024)
• Easwaran Nagar: Rs 600 per sq.ft (2024)
• Easwaran Nagar Phase-II: Rs 600 per sq.ft (2024)
• Friends Avenue: Rs 600 per sq.ft (2024)
• Ganesh Gardens: Rs 800 per sq.ft (2024)
• Arunachala Garden Avenue - E.E.K. Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Metro City Phase I

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 at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. 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 Chennai Metro City Phase I?

The Chengleput Joint II Sub Registrar Office covers Chennai Metro City Phase I. The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Kolathur. It determines the minimum value at which the property must be registered, ensuring that the transaction is documented accurately and in compliance with local regulations.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Chennai Metro City Phase I?

The current guideline value for Chennai Metro City Phase I 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 constant at Rs 600 per sq.ft for both the 2023 and 2024 revisions, with no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of Chennai Metro City Phase I?

Chennai Metro City Phase I is classified as Residential Special Type - I under the Chengleput Joint II SRO.

How is stamp duty calculated for properties in Chennai Metro City Phase I?

Stamp duty for properties in Chennai Metro City Phase I is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot, the total stamp duty would be Rs 42,000 based on the current guideline value.

Where is the Sub Registrar Office for Chennai Metro City Phase I located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.