Guideline Value for CHINNAMMAL STREET

Chinnammal Street guideline value

The current guideline value of Chinnammal Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Saidapet village, under the Chennai South Joint II SRO, and is classified as Residential Class III Type - I.

How the guideline value of Chinnammal Street has changed

The guideline value for Chinnammal Street has seen several revisions over the years. Starting with the 2002 revision, the guideline value was Rs 589 per sq.ft. This increased to Rs 763 per sq.ft in 2003, marking a rise of 30%. The value continued to rise, reaching Rs 1,100 per sq.ft in 2007, an increase of 44%. In 2012, the value was revised to Rs 3,000 per sq.ft, which represented a significant jump of 173% from the previous figure. However, in 2017, the value decreased to Rs 2,010 per sq.ft, reflecting a decline of 33%.

From 2017 to 2023, the guideline value experienced a notable increase to Rs 3,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the 2023 figure. There are no figures available for the years not mentioned in the revisions.

Guideline values in Saidapet

Saidapet village has a total of 106 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Chinnammal Street's 2024 guideline value is below this median.

• Chetty Thottam Street: Rs 3,300 per sq.ft (2024)
• Chetty Street: Rs 4,400 per sq.ft (2024)
• Central Exercise Colony: Rs 4,950 per sq.ft (2024)
• Customs Colony: Rs 4,950 per sq.ft (2024)
• Deewan Bashyam Garden Street: Rs 4,400 per sq.ft (2024)
• Deewan Bashyam Iyengar Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnammal Street

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinnammal Street?

The Sub Registrar Office that covers Chinnammal Street is the Chennai South Joint II 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 details.

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

The guideline value plays a crucial role when buying or selling property in Saidapet. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must be aware of this value as it impacts the overall cost of the transaction.

When registering a property, the guideline value is considered alongside the sale price. The higher of the two values will be used to calculate the stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Chinnammal Street?

The current guideline value of Chinnammal Street 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 from Rs 589 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 460% over the years.

What is the registration office for Chinnammal Street?

The registration office for Chinnammal Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the total fees would amount to Rs 2,97,000.

What are the guideline values for other streets in Saidapet?

Other streets in Saidapet have varying guideline values, with rates ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft.