Guideline Value for CHINNAYYA NEW COLONY 3RD STREET

Chinnayya New Colony 3rd Street guideline value

The current guideline value of Chinnayya New Colony 3rd Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class I Type - II land classification.

How the guideline value of Chinnayya New Colony 3rd Street has changed

Looking at the historical revisions, the guideline value for Chinnayya New Colony 3rd Street has undergone several changes. The earliest recorded revision in 2003 set the value at Rs 550 per sq.ft. This increased to Rs 1,000 per sq.ft in 2007, marking a significant rise of 82%. In 2012, the value saw a substantial increase to Rs 4,500 per sq.ft, reflecting a growth of 350%. However, this was followed by a decrease to Rs 3,015 per sq.ft in 2017, a drop of 33%. The value then increased sharply to Rs 4,500 per sq.ft in 2023, and finally to Rs 4,900 per sq.ft in 2024, showing a rise of 9%.

The register has no figure for this street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 791%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, placing Chinnayya New Colony 3rd Street's 2024 figure above this median.

• Chinnayya New Colony 2nd Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 4th Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 2nd Main Road: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony Link (Inaippu) Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 1st Street: Rs 4,900 per sq.ft (2024)
• Chinnayya Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnayya New Colony 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnayya New Colony 3rd Street?

The Sub Registrar Office that covers Chinnayya New Colony 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role in the property registration process in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Chinnayya New Colony 3rd Street?

The current guideline value of Chinnayya New Colony 3rd Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 550 per sq.ft in 2003 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 791% over this period.

What is the land classification for Chinnayya New Colony 3rd Street?

Chinnayya New Colony 3rd Street is classified as Residential Class I Type - II.

Where can I find the registration office for this area?

The registration office for Chinnayya New Colony 3rd Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 at a rate of 7%.