Guideline Value for CHERAN NAGAR

Cheran Nagar guideline value

The current guideline value of Cheran Nagar, located in Enjambakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class IV Type - I land classification.

How the guideline value of Cheran Nagar has changed

The guideline value for Cheran Nagar has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The next revision in 2023 saw the value rise to Rs 1,500 per sq.ft, and the most recent revision in 2024 set it at Rs 1,700 per sq.ft. The register has no figure for this street in 2002 and 2003.

From 2007 to 2012, the value increased by 200%, followed by a decrease of 33% from 2012 to 2017. There was a substantial increase of 49% from 2017 to 2023, and a further increase of 13% from 2023 to 2024. Overall, from 2007 to 2024, the guideline value has risen by 240%.

Guideline values in Enjambakkam

In Enjambakkam, there are 253 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 7,200 per sq.ft, with a median value of Rs 2,200 per sq.ft. Cheran Nagar's 2024 figure is below this median.

• Chinnadi Kuppam Palla Street: Rs 1,700 per sq.ft (2024)
• Chinnandi Kuppam Cross Road: Rs 1,700 per sq.ft (2024)
• Chinnandi Kuppam First Street: Rs 3,300 per sq.ft (2024)
• Chinnandi Kuppam Main Road: Rs 3,300 per sq.ft (2024)
• Chinnandi Kuppam Mettu Street: Rs 1,700 per sq.ft (2024)
• Cholamandal Artist Village: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cheran Nagar?

Cheran Nagar falls under the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Enjambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the registration process. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Cheran Nagar?

The current guideline value of Cheran Nagar 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 500 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 240% over the period.

What is the land classification for Cheran Nagar?

Cheran Nagar is classified under Residential Class IV Type - I.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions in Cheran Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.