Guideline Value for CHINNASAMY STREET

Chinnasamy Street guideline value

The current guideline value of Chinnasamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Vadaagaram village, under the Kodambakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chinnasamy Street has changed

The guideline value for Chinnasamy Street has seen several revisions over the years. The 2007 revision set the value at Rs 1,350 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 3,350 per sq.ft in the 2017 revision, before climbing to Rs 5,000 per sq.ft again in the 2023 revision. The most recent 2024 revision has raised the value to Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 307%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Vadaagaram

In Vadaagaram, there are 78 streets under the Kodambakkam SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing Chinnasamy Street's 2024 guideline value below that median.

• Bharathi Street: Rs 6,600 per sq.ft (2024)
• Bajibai Road: Rs 3,300 per sq.ft (2024)
• Ganesa Road: Rs 3,300 per sq.ft (2024)
• Gangadharan Street: Rs 4,900 per sq.ft (2024)
• Govindan Street: Rs 7,000 per sq.ft (2024)
• Govindasamy Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnasamy Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinnasamy Street?

The Sub Registrar Office that covers Chinnasamy Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Vadaagaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale or purchase.

When buyers and sellers agree on a sale price, the guideline value is used to ensure that the transaction is registered at a value that reflects the current market standards. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Chinnasamy Street?

The current guideline value of Chinnasamy Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Chinnasamy Street has increased from Rs 1,350 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 307% over the years.

What are the stamp duty and registration fees for a property in Chinnasamy Street?

For a 1,000 sq.ft property, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Chinnasamy Street?

The Kodambakkam Sub Registrar Office covers Chinnasamy Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for Chinnasamy Street?

Chinnasamy Street is classified as Residential Class II Type - I, which is relevant for determining its guideline value and usage.