Guideline Value for CHERAN STREET (WARD -5)

Cheran Street (Ward -5) guideline value

The current guideline value of Cheran Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO, classified as Residential Special Type - V.

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

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 804 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,200 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,321 per sq.ft in the 2024 revision, which represents a 10% rise from the previous year.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Cheran Street (Ward -5) above that median.

• Chelliyamman Kovil Street(Kr): Rs 660 per sq.ft (2024)
• Chitra Nagar (Sa): Rs 440 per sq.ft (2024)
• Chozhan Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,321 per sq.ft (2024)
• Cmda Nagar G.S.T. Road (Ward -3): Rs 2,200 per sq.ft (2024)
• Chakaravarthy Nagar (N): Rs 660 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 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. Please note that the 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 further calculations.

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, 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 Ninna Karai

The guideline value is an essential factor when registering property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the sale or purchase of property.

When a property is bought or sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the property's worth as determined by the local government. This value is crucial for legal and financial purposes during the registration process.

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 1,321 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

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

Cheran Street (Ward -5) is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Cheran Street (Ward -5)?

The Sub Registrar Office for Cheran Street (Ward -5) is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 13,21,000 would incur a stamp duty of Rs 92,470 at a rate of 7%.