Guideline Value for Chakarapani Thottam

Chakarapani Thottam guideline value

The current guideline value of Chakarapani Thottam is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chakarapani Thottam has changed

Over the years, the guideline value for Chakarapani Thottam has undergone several revisions. The 2007 revision set the value at Rs 800 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, it then dropped to Rs 1,675 per sq.ft in 2017 before rising to Rs 2,500 per sq.ft in 2023 and reaching the current figure of Rs 2,700 per sq.ft in 2024. The register has no figure for the years 2002 and 2003.

From 2017 to 2023, there was a substantial increase of 49%, followed by an 8% rise from 2023 to 2024. Notably, the value saw a remarkable increase of 213% from 2007 to 2012, but a decrease of 33% from 2012 to 2017. Overall, the guideline value has increased by 238% from 2007 to 2024.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, placing Chakarapani Thottam's 2024 figure below that median.

• Chandran Lane (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Chandran Street (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Chandrasekaran Salai: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chakarapani Thottam

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Chakarapani Thottam?

The Sub Registrar Office that covers Chakarapani Thottam is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value helps both parties understand the fair value of the property in question. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set a realistic asking price.

Frequently asked questions

What is the current guideline value of Chakarapani Thottam?

The current guideline value of Chakarapani Thottam is Rs 2,700 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 800 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 238% over this period.

What are the other streets in Peravallur with similar guideline values?

Other streets in Peravallur include Chandran Lane and Chandran Street, both at Rs 3,301 per sq.ft, as well as several streets in Chelliamman Colony, all at Rs 2,700 per sq.ft.

What is the stamp duty rate for properties in Chakarapani Thottam?

The stamp duty for properties in Chakarapani Thottam is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011, and it handles registrations for properties in Chakarapani Thottam.