Guideline Value for Chellammal Nagar

Chellammal Nagar guideline value

The current guideline value of Chellammal Nagar, located in Noombal village under the Kunrathur SRO, is Rs 2,090 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Chellammal Nagar has changed

Over the years, the guideline value of Chellammal Nagar has seen significant changes. The earliest recorded figure was Rs 97 per sq.ft in 2003. This increased dramatically to Rs 1,273 per sq.ft by 2017, marking a substantial rise of 1212%. Following this, the guideline value rose to Rs 1,900 per sq.ft in 2023, which was a 49% increase from the previous revision. The most recent revision in 2024 set the value at Rs 2,090 per sq.ft, reflecting a 10% increase from 2023. The register has no figures for the years 2002, 2007, and 2012 for this street.

Overall, from 2003 to 2024, the guideline value has increased by 2055%, showcasing a significant upward trend in the valuation of properties in this area.

Guideline values in Noombal

Noombal village has a total of 164 streets under the Kunrathur SRO, with a 2024 guideline value range from Rs 1,100 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, which is equal to the current guideline value of Chellammal Nagar.

• Chettiyar Agaram Salai: Rs 2,090 per sq.ft (2024)
• Brindavan Nagar: Rs 2,090 per sq.ft (2024)
• Crystal Garden Phase I: Rs 1,760 per sq.ft (2024)
• Devi Karumariyamman Nagar: Rs 1,980 per sq.ft (2024)
• Dhanalakshmi Enclave: Rs 4,290 per sq.ft (2024)
• Drowpathi Amman Koil Street: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Chellammal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, while the registration fee at 2% would be Rs 41,800, bringing the total cost for these fees to Rs 1,88,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chellammal Nagar?

The Sub Registrar Office that covers Chellammal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Noombal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this valuation.

During the registration process, buyers and sellers must consider the guideline value to avoid any discrepancies. The final registration amount will be based on the higher of the guideline value or the agreed sale price, which helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Chellammal Nagar?

The current guideline value of Chellammal Nagar is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 97 per sq.ft in 2003 to Rs 2,090 per sq.ft in 2024, marking an overall increase of 2055% over this period.

What are the stamp duty and registration fees for properties in Chellammal Nagar?

For a property valued at Rs 20,90,000, the stamp duty would be Rs 1,46,300 and the registration fee would be Rs 41,800, totaling Rs 1,88,100.

Which Sub Registrar Office is responsible for Chellammal Nagar?

The Kunrathur Sub Registrar Office is responsible for Chellammal Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Chellammal Nagar?

Chellammal Nagar is classified as Residential Special Type - I, which indicates its designated use for residential purposes.