Guideline Value for CHINNIAH 2ND STREET

Chinniah 2nd Street guideline value

The current guideline value of Chinniah 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO, with a land classification of Residential Special Type - II.

How the guideline value of Chinniah 2nd Street has changed

The guideline value for Chinniah 2nd Street has undergone several revisions over the years. In 2003, the value was Rs 567 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2007. Following this, the value saw a remarkable rise to Rs 8,000 per sq.ft in 2012, before dropping to Rs 5,360 per sq.ft in 2017. The 2023 revision set the value at Rs 8,000 per sq.ft, and the latest revision in 2024 has raised it to Rs 8,800 per sq.ft.

Between the revisions, there have been notable changes. The increase from 2017 to 2023 was 49%, while the jump from 2023 to 2024 was 10%. The value decreased by 33% from 2012 to 2017, but there was a significant increase of 700% from 2007 to 2012. The increase from 2003 to 2007 was 76%, and overall, from 2003 to 2024, the guideline value has increased by 1452%. The register has no figure for the year 2002 for this street.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. Chinniah 2nd Street's 2024 figure of Rs 8,800 per sq.ft is above this median.

• Chinniah Ist Street Northern Side Of East Jones Road: Rs 8,800 per sq.ft (2024)
• C.I.T.Nagan Second Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Extension Fourth Main Road T.S.No.5 Only: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar Ext. Third Main Road Ist Street: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar Fifth Gross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Fifth Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chinniah 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value would be Rs 88,00,000. The stamp duty at 7% would amount to Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total fees to Rs 7,92,000. Please note that the 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 more details.

Which Sub Registrar Office covers Chinniah 2nd Street?

The Sub Registrar Office that covers Chinniah 2nd Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Mambalam. It serves as a reference point for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price. The duty is charged on the higher of the two, which means that if the sale price exceeds the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Chinniah 2nd Street?

The current guideline value of Chinniah 2nd Street is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 567 per sq.ft in 2003 to Rs 8,800 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Chinniah 2nd Street?

Chinniah 2nd Street is classified as Residential Special Type - II.

What are the stamp duty and registration fees for property in Chinniah 2nd Street?

For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000 and the registration fee would be Rs 1,76,000, totaling Rs 7,92,000.

Which Sub Registrar Office covers the area of Chinniah 2nd Street?

The Thiyagaraya nagar Sub Registrar Office covers Chinniah 2nd Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.