Guideline Value for Challavel Nagar

Challavel Nagar guideline value

The current guideline value of Challavel Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO, classified as Residential Class III Type - I.

How the guideline value of Challavel Nagar has changed

The guideline value for Challavel Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 1,500 per sq.ft in the 2023 revision, and it has now risen to Rs 1,600 per sq.ft in the 2024 revision, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that Challavel Nagar's 2024 guideline value is below this median.

• Chekizhar Street(senthil nagar): Rs 2,700 per sq.ft (2024)
• Chellammal Nagar: Rs 1,600 per sq.ft (2024)
• Car shed Complex Road: Rs 2,400 per sq.ft (2024)
• Chenkuttuvan Street(senthil nagar): Rs 2,700 per sq.ft (2024)
• Britania Nagar: Rs 2,400 per sq.ft (2024)
• Brindavan Avenue (Sri Nagar Colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Challavel Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,600 per sq.ft, the guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to 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 information.

Which Sub Registrar Office covers Challavel Nagar?

The Sub Registrar Office that covers Challavel Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value helps to ensure that the transaction is registered at a value that reflects the current market conditions, thereby facilitating a fair process for both buyers and sellers.

Frequently asked questions

What is the current guideline value of Challavel Nagar?

The current guideline value of Challavel Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,600 per sq.ft in 2024.

What is the land classification of Challavel Nagar?

Challavel Nagar is classified as Residential Class III Type - I.

Where can I find the Sub Registrar Office for Challavel Nagar?

The Sub Registrar Office for Challavel Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

What are the stamp duty and registration fees for property in Challavel Nagar?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.