Guideline Value for CHINNA 2ND STREET

Chinna 2nd Street guideline value

The current guideline value of Chinna 2nd Street is Rs 2,160 per sq.ft, effective from 1 July 2024. This street is located in Nemilicherry village, under the Pallavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chinna 2nd Street has changed

The guideline value for Chinna 2nd Street has undergone several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in 2017. Following this, the value rose significantly to Rs 2,000 per sq.ft in 2023, and most recently, it has increased to Rs 2,160 per sq.ft in 2024, reflecting an 8% rise from the previous year.

From 2012 to 2017, the value decreased by 33%, but since then, there has been an overall increase of 8% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value is Rs 2,160 per sq.ft, which is equal to the current value of Chinna 2nd Street.

• Chinna 1st Street: Rs 2,160 per sq.ft (2024)
• Chidhambaram Street: Rs 2,750 per sq.ft (2024)
• Cheran Street: Rs 2,160 per sq.ft (2024)
• Chozan Street: Rs 2,160 per sq.ft (2024)
• Chandra Street: Rs 2,160 per sq.ft (2024)
• Brahmin Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value would be Rs 21,60,000. The stamp duty, charged at 7%, would amount to Rs 1,51,200, and the registration fee, at 2%, would be Rs 43,200. Together, the total cost for stamp duty and registration fee would be Rs 1,94,400. 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 Chinna 2nd Street?

The Sub Registrar Office that covers Chinna 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value is a crucial factor when registering property transactions in Nemilicherry. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of a property.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Chinna 2nd Street?

The current guideline value of Chinna 2nd Street is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent increase from Rs 2,000 per sq.ft in 2023 to Rs 2,160 per sq.ft in 2024, marking an 8% rise.

What is the land classification of Chinna 2nd Street?

Chinna 2nd Street is classified as Residential Class II Type - I, indicating its designation for residential use.

Where is the Pallavaram Sub Registrar Office located?

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

How is stamp duty calculated for properties in Chinna 2nd Street?

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 at the current rate, the total stamp duty would be Rs 1,51,200.