Guideline Value for CHIDAMBARANATHAN STREET

Chidambaranathan Street guideline value

The current guideline value of Chidambaranathan Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Cantonment Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chidambaranathan Street has changed

Over the years, the guideline value of Chidambaranathan Street has experienced several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was later revised to Rs 1,675 per sq.ft in 2017. This marked a decrease of 33%. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and then to Rs 2,700 per sq.ft in 2024, reflecting an increase of 8% from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a total of 81 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which aligns with the current guideline value of Chidambaranathan Street.

• Churuch Road: Rs 3,850 per sq.ft (2024)
• Cbkm: Rs 3,300 per sq.ft (2024)
• Depot Lane: Rs 3,850 per sq.ft (2024)
• Bharathy Street: Rs 2,700 per sq.ft (2024)
• Bharath Nagar(Semman Nagar): Rs 2,200 per sq.ft (2024)
• Bazaar Road, Police Station Road, Indra Gandhi Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaranathan Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to 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 more details.

Which Sub Registrar Office covers Chidambaranathan Street?

The Sub Registrar Office that covers Chidambaranathan Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is documented accurately.

When a buyer and seller agree on a sale price, the registration office will assess whether the sale price meets or exceeds the guideline value. If the sale price is lower, the guideline value will be used to calculate the applicable stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Chidambaranathan Street?

The current guideline value of Chidambaranathan Street is Rs 2,700 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, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the median guideline value for streets in Cantonment Pallavaram?

The median guideline value for streets in Cantonment Pallavaram is Rs 2,700 per sq.ft, which is the same as the current guideline value for Chidambaranathan Street.

What are the stamp duty rates for properties in Chidambaranathan Street?

The stamp duty rate for properties in Chidambaranathan Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Chidambaranathan Street?

The Sub Registrar Office for Chidambaranathan Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.