Guideline Value for CHITTHERI QUARTERS

Chittheri Quarters guideline value

The current guideline value of Chittheri Quarters is Rs 2,160 per sq.ft, effective from 1 July 2024. This area is located in Kilkattalai village, under the Pallavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Chittheri Quarters has changed

The guideline value for Chittheri Quarters has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally to the current rate of Rs 2,160 per sq.ft in 2024, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village has 194 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this village is Rs 2,530 per sq.ft, placing Chittheri Quarters below this median.

• Cmrd Road: Rs 3,300 per sq.ft (2024)
• Colony Street: Rs 1,080 per sq.ft (2024)
• Chelliyamman Koil Street(Sivan Koil Street): Rs 1,980 per sq.ft (2024)
• Chelliamman Koil St, Yasodha Nagar: Rs 1,980 per sq.ft (2024)
• Crystal Court: Rs 2,530 per sq.ft (2024)
• Chelliamman Koil St, Gandhi Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Chittheri Quarters

For a 1,000 sq.ft plot at the current guideline value of Rs 2,160 per sq.ft, the total guideline value is Rs 21,60,000. The stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, totaling Rs 1,94,400. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chittheri Quarters?

The Chittheri Quarters area falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO here.

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

The guideline value is an essential factor in property transactions in Kilkattalai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider the guideline value when negotiating sale prices, as the registration office will use this figure to calculate applicable duties and fees.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chittheri Quarters?

The current guideline value of Chittheri Quarters is Rs 2,160 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,160 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Chittheri Quarters?

For a property valued at Rs 21,60,000, the stamp duty at 7% would be Rs 1,51,200, and the registration fee at 2% would be Rs 43,200, totaling Rs 1,94,400.

Which Sub Registrar Office covers Chittheri Quarters?

The Pallavaram Sub Registrar Office covers Chittheri Quarters, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification of Chittheri Quarters?

Chittheri Quarters is classified as Residential Class III Type - I, indicating its use for residential purposes.