Guideline Value for CHINNAYYA STREET

Chinnayya Street guideline value

The current guideline value of Chinnayya Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class I Type - II.

How the guideline value of Chinnayya Street has changed

Chinnayya Street has undergone several revisions in its guideline value over the years. The earliest recorded figure is from 2002, which was Rs 501 per sq.ft. This value increased to Rs 550 per sq.ft in 2003, marking a 10% rise. In 2007, the guideline value saw a significant jump to Rs 700 per sq.ft, an increase of 27%. The value then surged dramatically to Rs 4,500 per sq.ft in 2012, reflecting a 543% increase. However, it dropped to Rs 3,015 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 4,500 per sq.ft in 2023, and most recently, it has reached Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 878%. The register has no figure for the years not mentioned above.

Guideline values in Perambur

In Perambur village, 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, with a median value of Rs 2,700 per sq.ft. Chinnayya Street's 2024 figure is above this median.

• Chinnayya New Colony Link (Inaippu) Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 4th Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 3rd Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 2nd Street: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 2nd Main Road: Rs 4,900 per sq.ft (2024)
• Chinnayya New Colony 1st Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnayya Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value would be 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, making the total fees together Rs 4,41,000. Please 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 Chinnayya Street?

The Sub Registrar Office covering Chinnayya 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 is an important factor when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value of properties, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When a property is bought or sold, the guideline value is compared to the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Chinnayya Street?

The current guideline value of Chinnayya 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 multiple times, starting from Rs 501 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 878% over the years.

What is the classification of Chinnayya Street?

Chinnayya Street is classified as Residential Class I Type - II under the Purasaivakkam SRO.

What are the stamp duty and registration fees for properties on Chinnayya Street?

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Where is the Sub Registrar Office for Chinnayya Street located?

The Sub Registrar Office for Chinnayya Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, under the Purasaivakkam registration zone.