Guideline Value for Chellammal Street

Chellammal Street guideline value

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

How the guideline value of Chellammal Street has changed

According to the guideline value register, the earliest revision for Chellammal Street is from 2012, where the value was set at Rs 4,000 per sq.ft. This figure was then revised to Rs 4,400 per sq.ft in 2024, marking a 10% increase over the 12-year period. There are no figures available for the revisions in the years 2023, 2017, 2007, 2003, and 2002.

The 2024 revision reflects a significant update, moving from the previous value of Rs 4,000 per sq.ft in 2012 to the current rate. The increase in guideline value indicates a change in the assessment of property values in this area, aligning with the overall trends observed in the village.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 3,850 per sq.ft, placing Chellammal Street's 2024 figure above this median.

• Chinthamani Vinayagar Koil Street: Rs 4,950 per sq.ft (2024)
• Chithambaram Street: Rs 4,950 per sq.ft (2024)
• B.V.R.Nagar - Vivekanandar Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar Main Road: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar - Angala Parameswari Street: Rs 3,300 per sq.ft (2024)
• B.V.R.Nagar 4th Street: Rs 3,300 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 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chellammal Street?

The Sub Registrar Office that covers Chellammal Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Valasaravakkam. It is used to determine the stamp duty and registration fees that are applicable during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration process reflects the current value of properties in the area.

Frequently asked questions

What is the current guideline value of Chellammal Street?

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

How has the guideline value changed over the years?

The guideline value changed from Rs 4,000 per sq.ft in 2012 to Rs 4,400 per sq.ft in 2024, representing a 10% increase. There are no figures available for the revisions in 2023, 2017, 2007, 2003, and 2002.

What is the land classification of Chellammal Street?

Chellammal Street is classified under Residential Class I Type - II land classification, which indicates its designation for residential purposes.

Where can I find the registration office for Chellammal Street?

The registration office for Chellammal Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Chellammal Street?

Stamp duty for properties in Chellammal Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 at a rate of 7%.