Guideline Value for Chanaicker Street

Chanaicker Street guideline value

The current guideline value of Chanaicker Street in Kolathur village, under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class II Type - I.

How the guideline value of Chanaicker Street has changed

The guideline value for Chanaicker Street has undergone several revisions since 2002. The earliest recorded figure is from 2002, at Rs 233 per sq.ft. This increased to Rs 253 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 700 per sq.ft in 2007, reflecting a 177% increase. In 2012, the value rose further to Rs 2,500 per sq.ft, a substantial 257% increase from the previous revision. However, in 2017, the value decreased to Rs 1,675 per sq.ft, showing a decline of 33%. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, which is a 61% increase from 2017.

It is important to note that there is no figure available for the year 2023 in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Chanaicker Street's 2024 figure below that median.

• Cauveri Nagar: Rs 4,400 per sq.ft (2024)
• Cauveri Nagar 1st Street: Rs 4,400 per sq.ft (2024)
• Cauveri Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• Cauveri Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• Cauveri Nagar 4th Street: Rs 4,400 per sq.ft (2024)
• Chelliamman Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chanaicker Street

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 the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chanaicker Street?

The Sub Registrar Office that covers Chanaicker Street 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 Kolathur

The guideline value is a critical factor in property transactions in Kolathur, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Chanaicker Street?

The current guideline value of Chanaicker Street 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 233 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 1059% over the years.

What is the land classification for Chanaicker Street?

Chanaicker Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Chanaicker Street?

The Sub Registrar Office for Chanaicker Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Chanaicker Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.