Guideline Value for Chellammal Kovil Street

Chellammal Kovil Street guideline value

The current guideline value of Chellammal Kovil Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Oragadam village and falls under the Ambattur SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Chellammal Kovil Street has changed

The guideline value for Chellammal Kovil Street has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,300 per sq.ft, which decreased to Rs 871 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 1,300 per sq.ft in the 2023 revision, and then it rose again to Rs 1,400 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, there has been a net increase of 8%. It is worth noting that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Chellammal Kovil Street's 2024 figure below that median.

• Chellamuthu Street: Rs 1,400 per sq.ft (2024)
• Chengalvaraiyan Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Cheran Street(Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Chozhan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Church Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Church Street (Venkatesara Nagar): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chellammal Kovil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value would be Rs 14,00,000. The stamp duty at 7% would amount to Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total cost Rs 1,26,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chellammal Kovil Street?

The Sub Registrar Office that covers Chellammal Kovil Street 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 more information.

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

The guideline value plays a crucial role in property transactions in Oragadam. It is used to determine the stamp duty and registration fees that must be paid during the registration process of a property. Buyers and sellers should be aware that the guideline value may differ from the actual sale price of the property.

When registering a property, the authorities will charge the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chellammal Kovil Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,300 per sq.ft in 2023 to Rs 1,400 per sq.ft in 2024, an increase of 8%. It was Rs 871 per sq.ft in 2017, showing a significant increase of 49% by 2023.

What is the land classification for Chellammal Kovil Street?

Chellammal Kovil Street is classified as Residential Class III Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000, and the registration fee would be Rs 28,000, totaling Rs 1,26,000. The duty is calculated on the higher of the guideline value or the sale price.

Which office handles property registrations for Chellammal Kovil Street?

The Ambattur Sub Registrar Office is responsible for property registrations in Chellammal Kovil Street. It is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.