Guideline Value for CHERAN STREET (WARD -5)

Cheran Street (Ward -5) guideline value

The current guideline value of Cheran Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Cheran Street (Ward -5) has changed

Over the years, the guideline value for Cheran Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, marking a 10% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, which means there was a significant increase of 49% to reach the 2023 figure. The 2012 revision had set the value at Rs 1,200 per sq.ft, but this represented a decrease of 33% from the 2017 figure.

From 2012 to 2024, the overall change in guideline value is an increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets registered under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Cheran Street's 2024 value above this median.

• Chennai Gate Residential Township Extention-I: Rs 1,320 per sq.ft (2024)
• Chelliyamman Kovil Street(Kr): Rs 660 per sq.ft (2024)
• Chitra Nagar (Sa): Rs 440 per sq.ft (2024)
• Chozhan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• C.K.Radha Nagar: Rs 1,980 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cheran Street (Ward -5)?

The Sub Registrar Office that covers Cheran Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, 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 Kattankollatur

The guideline value is a crucial factor when registering property transactions in Kattankollatur. It serves as the minimum value on which stamp duty and registration fees are calculated, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in determining the official value of the property. This value is used to calculate the taxes and fees associated with the registration process, ensuring transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Cheran Street (Ward -5)?

The current guideline value of Cheran Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, a 10% increase. It was Rs 804 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

What is the land classification for Cheran Street (Ward -5)?

Cheran Street (Ward -5) is classified as Residential Special Type - V, indicating its intended use for residential purposes.

Where can I find the Chengleput Joint II Sub Registrar Office?

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

How is the stamp duty calculated for properties in Kattankollatur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 13,20,000 would incur a stamp duty of Rs 92,400 at a rate of 7%.