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 Peramanoor village and falls under the Chengleput Joint II SRO, classified as Residential Special Type - V.

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

Over the years, the guideline value for Cheran Street (Ward -5) has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value up to Rs 1,200 per sq.ft. The latest revision in 2024 has further increased the guideline value to Rs 1,320 per sq.ft, marking a 10% rise from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Cheran Street (Ward -5) above this median with its current rate of Rs 1,320 per sq.ft.

• Chelliyamman Kovil Street(Kr): Rs 661 per sq.ft (2024)
• Chitra Nagar (Sa): Rs 550 per sq.ft (2024)
• Chozhan Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Cmda Layout Nennaikarai (Ward -3): Rs 1,320 per sq.ft (2024)
• Cmda Nagar G.S.T. Road (Ward -3): Rs 2,200 per sq.ft (2024)
• Chakaravarthy Nagar (N): Rs 661 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 amounts to 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, making the total cost for these fees Rs 1,18,800. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. 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, 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 Peramanoor

When buying or selling property in Peramanoor, the guideline value plays a crucial role in the registration process. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at an appropriate value.

Additionally, the guideline value is used to calculate the stamp duty and registration fees that are payable during the registration of the property. This ensures that both the buyer and seller are aware of the financial obligations involved in the transaction.

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 several times, with the most recent increase being from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024. The value saw a decrease from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017 before rising again.

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

Cheran Street (Ward -5) is classified as Residential Special Type - V. This classification impacts the guideline value and the types of properties that can be developed in the area.

Where can I find the registration office for Cheran Street (Ward -5)?

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

How is the stamp duty calculated for properties in Cheran Street (Ward -5)?

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