Guideline Value for CHETTINAD VILLA

Chettinad Villa guideline value

The current guideline value of Chettinad Villa in Perumbakkam village is Rs 2,725 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

How the guideline value of Chettinad Villa has changed

The guideline value of Chettinad Villa has undergone several revisions over the years. The earliest available figure is from 2012, which was Rs 2,500 per sq.ft. Following this, in 2017, the value decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 2,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 2,725 per sq.ft, reflecting a 9% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, when considering the changes from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with the 2024 guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, which is the same as the guideline value for Chettinad Villa.

• Cheran Nagar: Rs 2,725 per sq.ft (2024)
• Citrine Sanctum By Urban Tree: Rs 4,000 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 975 per sq.ft (2024)
• Color Castle: Rs 3,950 per sq.ft (2024)
• Color Feels: Rs 2,725 per sq.ft (2024)
• Casa Vogue: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Chettinad Villa

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value would be Rs 27,25,000. The stamp duty at 7% would amount to Rs 1,90,750, while the registration fee at 2% would be Rs 54,500. Together, the total cost for stamp duty and registration would be Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chettinad Villa?

The Sub Registrar Office that covers Chettinad Villa is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Perumbakkam, as it determines the official value of the property for registration purposes. This value is used to calculate the stamp duty and registration fees that must be paid at the time of the transaction.

When a property is registered, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives revenue from property transactions, reflecting the value of real estate in the area.

Frequently asked questions

What is the current guideline value of Chettinad Villa?

The current guideline value of Chettinad Villa is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, before increasing to Rs 2,500 per sq.ft in 2023, and finally reaching Rs 2,725 per sq.ft in 2024.

What is the land classification of Chettinad Villa?

Chettinad Villa is classified as Residential Special Type - I under the Selaiyur SRO.

What are the stamp duty and registration fees for Chettinad Villa?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,45,250, based on the guideline value of Rs 27,25,000.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.