Guideline Value for Chandran Street

Chandran Street guideline value

The current guideline value of Chandran Street is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Chandran Street has changed

The guideline value for Chandran Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,500 per sq.ft. This increased to Rs 2,680 per sq.ft in 2017, marking a 79% rise. The value then jumped to Rs 4,000 per sq.ft in 2023, which represents a 49% increase from the previous revision. The most recent revision in 2024 set the guideline value at Rs 4,400 per sq.ft, reflecting a 10% increase from 2023.

It is important to note that there are no figures available for Chandran Street in the revisions for the years 2002, 2003, and 2012. Overall, from 2007 to 2024, the guideline value has increased by 193%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, which is equal to the current value of Chandran Street.

• Chandru Street: Rs 3,850 per sq.ft (2024)
• Chakrabani Road/Street: Rs 4,400 per sq.ft (2024)
• Chellappa Street: Rs 3,850 per sq.ft (2024)
• Chelliamman Lane (Selliamman Lane): Rs 4,400 per sq.ft (2024)
• Chelliamman Nagar 1st street: Rs 4,950 per sq.ft (2024)
• Chelliamman Nagar 2nd street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Chandran Street

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that 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?

The Sub Registrar Office that covers Chandran Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately and legally.

When you buy or sell property, the guideline value helps in calculating the stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Chandran Street?

The current guideline value of Chandran Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,500 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, which is an overall increase of 193%.

What is the land classification for Chandran Street?

Chandran Street is classified under Residential Class II Type - II land classification.

Where can I find the Velacheri Sub Registrar Office?

The Velacheri Sub Registrar Office is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated on properties in Chandran Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 3,08,000.