Guideline Value for Chellamuthu Street

Chellamuthu Street guideline value

The current guideline value of Chellamuthu Street in Oragadam village is Rs 1,400 per sq.ft, effective from 1 July 2024. This street falls under the Ambattur Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Chellamuthu Street has changed

The guideline value of Chellamuthu Street has undergone several revisions over the years. In 2007, the value was set at Rs 400 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 225%. However, it then decreased to Rs 871 per sq.ft in 2017, reflecting a drop of 33%. The value saw a substantial increase to Rs 1,300 per sq.ft in 2023, followed by a further rise to Rs 1,400 per sq.ft in 2024, which is an increase of 8% from the previous year. The register has no figures for the years 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 250%. The transition from Rs 871 per sq.ft in 2017 to the current Rs 1,400 per sq.ft in 2024 indicates a significant change in the valuation of this street over the years.

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, with a median value of Rs 2,200 per sq.ft. Chellamuthu Street's 2024 guideline value is below this median.

• Chellammal Kovil 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 Chellamuthu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be 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 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 details.

Which Sub Registrar Office covers Chellamuthu Street?

The Sub Registrar Office that covers Chellamuthu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property transaction occurs, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chellamuthu Street?

The current guideline value of Chellamuthu 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 significantly from Rs 400 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 250% over the years.

What is the land classification of Chellamuthu Street?

Chellamuthu Street is classified as Residential Class III Type - I.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 14,00,000, the stamp duty would be Rs 98,000 at 7%.