Guideline Value for Chandrasekaran Street

Chandrasekaran Street guideline value

The current guideline value of Chandrasekaran Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, and is classified as Mixed Type - I land.

How the guideline value of Chandrasekaran Street has changed

The guideline value for Chandrasekaran Street has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 486 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant rise of 65%. The 2012 revision saw a further increase to Rs 3,500 per sq.ft, which was a growth of 338%. However, the value dropped to Rs 2,345 per sq.ft in 2017, reflecting a decrease of 33%. The 2023 revision set the value at Rs 3,750 per sq.ft, an increase of 60% from the previous figure. The most recent revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, a 3% increase from 2023.

It is important to note that the register has no figure for Chandrasekaran Street for the year 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, placing Chandrasekaran Street's 2024 figure above this median.

• Chavadi Street: Rs 4,400 per sq.ft (2024)
• Chellan Street: Rs 2,200 per sq.ft (2024)
• Chandra Nagar: Rs 2,100 per sq.ft (2024)
• Chambers Colony Kothandam Nagar 1,2,3,4,5: Rs 3,300 per sq.ft (2024)
• Chambers Colony 7b Street: Rs 3,300 per sq.ft (2024)
• Chambers Colony 1 To 11 Streets: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chandrasekaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, while the registration fee at 2% would be Rs 77,000. Together, the total fees would amount to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chandrasekaran Street?

The Sub Registrar Office that covers Chandrasekaran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the legal transfer of ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chandrasekaran Street?

The current guideline value of Chandrasekaran Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 486 per sq.ft in 2003 to Rs 3,850 per sq.ft in 2024, reflecting various increases and a decrease in between. Notably, it dropped to Rs 2,345 per sq.ft in 2017 before rising again.

What is the land classification of Chandrasekaran Street?

Chandrasekaran Street is classified as Mixed Type - I land, which indicates the nature of development permissible in the area.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Chavadi Street, Chellan Street, Chandra Nagar, and several streets in Chambers Colony, each with their own guideline values ranging from Rs 2,100 to Rs 4,400 per sq.ft as of 2024.

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

The Sub Registrar Office for Chandrasekaran Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.