Guideline Value for CHETTYNADU ENCLAVE PHASE II

Chettynadu Enclave Phase II guideline value

The current guideline value of Chettynadu Enclave Phase II is Rs 3,300 per sq.ft, effective from 1 July 2024. This property is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Chettynadu Enclave Phase II has changed

Over the years, the guideline value of Chettynadu Enclave Phase II has seen several revisions. The earliest recorded figure was Rs 500 per sq.ft in 2007. This value increased significantly to Rs 3,000 per sq.ft in 2012, marking a substantial rise of 500%. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value further increased to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 set it at Rs 3,300 per sq.ft, an increase of 10% from the previous year.

The guideline value register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 560%.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Chettynadu Enclave Phase II is above this median.

• Chettynadu Enclave: Rs 3,300 per sq.ft (2024)
• Chethry B.G.Road Cross Street: Rs 1,650 per sq.ft (2024)
• Chekizhar Street: Rs 1,650 per sq.ft (2024)
• Chitheri Sudukadu Salai: Rs 1,320 per sq.ft (2024)
• Chittibabu Nagar: Rs 2,420 per sq.ft (2024)
• Chakravarthy Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Chettynadu Enclave Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Chettynadu Enclave Phase II?

The Sub Registrar Office that covers Chettynadu Enclave Phase II is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Pallikaranai. 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 sales.

When buying or selling property, both the buyer and seller must be aware of the guideline value, as it directly impacts the financial obligations during the registration process. It is advisable to check the latest guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Chettynadu Enclave Phase II?

The current guideline value of Chettynadu Enclave Phase II is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 500 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, showing an overall increase of 560%.

What is the land classification of Chettynadu Enclave Phase II?

The land classification for Chettynadu Enclave Phase II is Commercial Class I Type - II.

Where can I find the Sub Registrar Office for Chettynadu Enclave Phase II?

The Sub Registrar Office for Chettynadu Enclave Phase II is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Chettynadu Enclave Phase II?

The stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, leading to a stamp duty of Rs 2,31,000.