Guideline Value for Chellammal Street

Chellammal Street guideline value

The current guideline value of Chellammal Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Aminjikarai village under the AnnaNagar SRO, classified as Residential Class II Type - I.

How the guideline value of Chellammal Street has changed

The guideline value for Chellammal Street has undergone several revisions over the years. In 2002, the value was Rs 650 per sq.ft, which increased to Rs 1,200 per sq.ft in 2007. Following this, the value experienced a significant rise to Rs 5,000 per sq.ft in 2012, before dropping to Rs 3,350 per sq.ft in 2017. The value then increased to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft as of the 2024 revision. Notably, the register has no figure for the year 2003 for this street.

Between the revisions, the guideline value saw various changes. From 2002 to 2007, there was an increase of 85%, followed by a remarkable rise of 317% from 2007 to 2012. However, the value decreased by 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and finally increased by 10% from 2023 to 2024. Overall, from 2002 to 2024, the guideline value has increased by 746%.

Guideline values in Aminjikarai

Aminjikarai village has a total of 99 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 16,500 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Chellammal Street's current value above this median.

• Chengalvarayan Street: Rs 4,400 per sq.ft (2024)
• Cemetry Road: Rs 4,400 per sq.ft (2024)
• Devakiammal Street: Rs 6,600 per sq.ft (2024)
• East Arasamaram Street: Rs 4,400 per sq.ft (2024)
• East Club Road: Rs 14,300 per sq.ft (2024)
• East Mada Lane: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chellammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Chellammal Street?

The Sub Registrar Office covering Chellammal Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Aminjikarai. It is used to determine the stamp duty and registration fees applicable at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with the legal requirements during the transaction process.

When a property is sold, the guideline value is compared to the sale price, and the higher value is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value of Chellammal Street?

The current guideline value of Chellammal Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 650 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 746% over this period.

What is the median guideline value for streets in Aminjikarai?

The median guideline value for streets in Aminjikarai is Rs 4,400 per sq.ft, with Chellammal Street's current value being above this median.

What are the registration fees for properties in Chellammal Street?

The registration fees for properties in Chellammal Street are calculated based on the guideline value. For example, for a property valued at Rs 55,00,000, the total registration fees would amount to Rs 4,95,000.

Which office handles the registration for Chellammal Street?

The registration for Chellammal Street is handled by the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.