Guideline Value for CHINNAMMAN NAGAR

Chinnamman Nagar guideline value

The current guideline value of Chinnamman Nagar, located in Padiyanallur village under the Redhills SRO, is Rs 660 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Chinnamman Nagar has changed

The guideline value of Chinnamman Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 660 per sq.ft, which is an increase of 10% from the 2023 revision of Rs 600 per sq.ft. Prior to that, in 2017, the guideline value was Rs 402 per sq.ft, marking a significant increase of 49% over the next six years. The 2012 revision also recorded a value of Rs 600 per sq.ft, which was a decrease of 33% from the 2017 figure.

There are no recorded figures for the years 2002, 2003, and 2007 for Chinnamman Nagar. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Padiyanallur

In Padiyanallur, there are 132 streets under the Redhills SRO that have a 2024 guideline value ranging from Rs 385 to Rs 2,750 per sq.ft, with a median value of Rs 770 per sq.ft. The guideline value for Chinnamman Nagar is below this median.

• Cheran Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Devaneya Pavanar Street: Rs 770 per sq.ft (2024)
• Bhavani Nagar: Rs 770 per sq.ft (2024)
• Bhavani Amman Koil Street (Bhavani Nagar): Rs 770 per sq.ft (2024)
• Bharat Nagar Extn.: Rs 660 per sq.ft (2024)
• Bharath Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, bringing the total cost for these fees to Rs 59,400. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Chinnamman Nagar?

The Sub Registrar Office that covers Chinnamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor when registering property transactions in Padiyanallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for calculating the associated costs, such as stamp duty and registration fees, which are based on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Chinnamman Nagar?

The current guideline value of Chinnamman Nagar is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2023 to Rs 660 per sq.ft in 2024, a 10% increase. It was Rs 402 per sq.ft in 2017 and Rs 600 per sq.ft in 2012, showing a 49% increase from 2017 to 2023.

What is the land classification for Chinnamman Nagar?

Chinnamman Nagar is classified under Residential Class II Type - I, which indicates the type of development permissible in the area.

Where can I find the Sub Registrar Office for Chinnamman Nagar?

The Sub Registrar Office for Chinnamman Nagar is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is stamp duty calculated for property in Chinnamman Nagar?

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 Rs 660 per sq.ft, the total guideline value is Rs 6,60,000, leading to a stamp duty of Rs 46,200.