Guideline Value for CHENNAIS ENCLAVE

Chennais Enclave guideline value

The current guideline value of Chennais Enclave, located in Chettipunniyam village, is Rs 1,800 per sq.ft. This value is effective from the 2024 revision and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Chennais Enclave has changed

Looking at the historical revisions, the guideline value for Chennais Enclave has seen various changes over the years. In the 2007 revision, the value was Rs 150 per sq.ft, which then significantly increased to Rs 1,800 per sq.ft in the 2012 revision. However, it dropped to Rs 1,206 per sq.ft in the 2017 revision before stabilizing at Rs 1,800 per sq.ft in both the 2023 and 2024 revisions. The register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a notable increase of 49%, while the jump from 2007 to 2012 represented a remarkable increase of 1100%. Overall, from 2007 to 2024, the guideline value has increased by 1100%.

Guideline values in Chettipunniyam

In Chettipunniyam, there are 47 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 700 to Rs 4,750 per sq.ft. The median value for these streets is Rs 900 per sq.ft, making the guideline value of Chennais Enclave above that median.

• Daga Nagar: Rs 1,500 per sq.ft (2024)
• Bhavani Nagar: Rs 1,200 per sq.ft (2024)
• Balaji Nagar: Rs 1,200 per sq.ft (2024)
• Azhagiri Nagar: Rs 700 per sq.ft (2024)
• Ganesan Nagar: Rs 900 per sq.ft (2024)
• G.K. Avenue: Rs 900 per sq.ft (2024)

Stamp duty and registration fee for property in Chennais Enclave

For a 1,000 sq.ft plot at the current guideline value of Rs 1,800 per sq.ft, the total guideline value amounts to Rs 18,00,000. The stamp duty at 7% would be Rs 1,26,000, and the registration fee at 2% would be Rs 36,000, making the total cost Rs 1,62,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chennais Enclave?

The Sub Registrar Office that covers Chennais Enclave is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Chettipunniyam, as it determines the minimum value at which the property can be registered. Buyers should be aware that the guideline value can affect the total costs involved in the transaction, including stamp duty and registration fees.

When registering a property, the guideline value is used to calculate the applicable taxes and fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. It is crucial to stay informed about the current guideline values to make well-informed decisions.

Frequently asked questions

What is the current guideline value of Chennais Enclave?

The current guideline value of Chennais Enclave is Rs 1,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with significant increases from Rs 150 per sq.ft in 2007 to Rs 1,800 per sq.ft in the 2012 revision, and then again stabilizing at Rs 1,800 per sq.ft in 2023 and 2024.

What is the median guideline value in Chettipunniyam?

The median guideline value in Chettipunniyam is Rs 900 per sq.ft, with Chennais Enclave's value being above this median.

What are the stamp duty and registration fees for property in Chennais Enclave?

The stamp duty for a property valued at Rs 18,00,000 would be Rs 1,26,000, and the registration fee would be Rs 36,000, totaling Rs 1,62,000.

Which office handles property registrations for Chennais Enclave?

The Chengleput Joint II Sub Registrar Office handles property registrations for Chennais Enclave, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.