Guideline Value for CHENNASAMY NAGAR

Chennasamy Nagar guideline value

The current guideline value of Chennasamy Nagar is Rs 750 per sq.ft, effective from 1 July 2024. This area is located in Walajabad village, under the Walajabad SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Chennasamy Nagar has changed

In the 2012 revision, the guideline value was set at Rs 750 per sq.ft. This figure remained unchanged in the following revisions, with the 2017 revision showing a decrease to Rs 502 per sq.ft, marking a -33% change. The value increased significantly in the 2023 revision, returning to Rs 750 per sq.ft. The 2024 revision has also maintained this rate, showing no change from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of +49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 750 per sq.ft, indicating stability over this period. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Walajabad

Walajabad village has a total of 196 streets under the Walajabad SRO, with the 2024 guideline values ranging from Rs 400 to Rs 2,000 per sq.ft. The median value for these streets is Rs 750 per sq.ft, making Chennasamy Nagar's 2024 figure equal to this median.

• Chetti Street: Rs 750 per sq.ft (2024)
• Chengalvarayan Street: Rs 600 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)
• Chinnakadai Sakkiliar Nattham Nagara Suthi: Rs 750 per sq.ft (2024)

Stamp duty and registration fee for property in Chennasamy Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 750 per sq.ft, the total guideline value amounts to Rs 7,50,000. The stamp duty, charged at 7%, would be Rs 52,500, while the registration fee at 2% would be Rs 15,000, bringing the total fees to Rs 67,500. 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 details.

Which Sub Registrar Office covers Chennasamy Nagar?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Walajabad. It is used to determine the stamp duty and registration fees that buyers must pay, ensuring that the transaction is recorded accurately and legally.

When buying or selling property, the guideline value is assessed to ensure compliance with local regulations. Buyers should be aware that the fees are calculated based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chennasamy Nagar?

The current guideline value of Chennasamy Nagar is Rs 750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 750 per sq.ft in the revisions of 2012, 2023, and 2024. It decreased to Rs 502 per sq.ft in 2017 and increased by +49% from 2017 to 2023.

What is the land classification of Chennasamy Nagar?

Chennasamy Nagar is classified as Residential Class IV Type - I. This classification is important for determining the appropriate guidelines and regulations for property in the area.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles the registration of properties in the area.

How is stamp duty calculated in Chennasamy Nagar?

Stamp duty in Chennasamy Nagar is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 7,50,000, the stamp duty would be Rs 52,500 at a rate of 7%.