Guideline Value for Chandran Street (Vetri Nagar)

Chandran Street (Vetri Nagar) guideline value

The current guideline value of Chandran Street (Vetri Nagar) is Rs 3,301 per sq.ft. This street is located in Peravallur village, under the Sembiam SRO, and is classified as Residential Special Type - II.

How the guideline value of Chandran Street (Vetri Nagar) has changed

The guideline value for Chandran Street (Vetri Nagar) has seen several revisions over the years. In 2007, the value was Rs 700 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, this value decreased to Rs 2,010 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 3,000 per sq.ft, and the latest revision in 2024 set it at Rs 3,301 per sq.ft, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. The jump from 2007 to 2012 was a remarkable 329%, but the value saw a decrease of 33% from 2012 to 2017. Overall, from 2007 to 2024, the guideline value has increased by 372%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO carrying a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with the median value being Rs 3,301 per sq.ft. Chandran Street (Vetri Nagar) aligns with this median value.

• Chandran Lane (Vetri Nagar): Rs 3,301 per sq.ft (2024)
• Chandrasekaran Salai: Rs 2,700 per sq.ft (2024)
• Chakarapani Thottam: 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 Chandran Street (Vetri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would be Rs 2,31,070, and the registration fee at 2% would be Rs 66,020, bringing the total to Rs 2,97,090. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandran Street (Vetri Nagar)?

The Sub Registrar Office covering Chandran Street (Vetri Nagar) 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 when registering property in Peravallur. It determines the minimum price at which a property can be sold and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buyers or sellers engage in property transactions, the guideline value ensures that the property is registered at a fair value, which helps in maintaining transparency in real estate dealings. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chandran Street (Vetri Nagar)?

The current guideline value of Chandran Street (Vetri Nagar) is Rs 3,301 per sq.ft as per the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 372% over the years.

What is the land classification for Chandran Street (Vetri Nagar)?

Chandran Street (Vetri Nagar) is classified as Residential Special Type - II.

Where is the Sembiam Sub Registrar Office located?

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

How is stamp duty calculated for properties in Peravallur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 33,01,000 would incur a stamp duty of Rs 2,31,070 at 7%.