Guideline Value for Chellappa Colony

Chellappa Colony guideline value

The current guideline value of Chellappa Colony, located in Gooduvancheri village, is Rs 2,001 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - II.

How the guideline value of Chellappa Colony has changed

The guideline value for Chellappa Colony has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is an increase from Rs 2,000 per sq.ft in 2023. The 2023 revision did not change the value, showing a 0% increase from the previous year. Looking further back, the 2017 revision set the value at Rs 1,340 per sq.ft, marking a significant increase of 49% to 2023. Overall, from 2017 to 2024, the increase remains at 49%.

It is important to note that there are no figures available for Chellappa Colony in the register for the years 2002, 2003, 2007, and 2012. This lack of data indicates that the guideline value has been established only in the revisions mentioned above.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,500 per sq.ft, placing Chellappa Colony's 2024 figure above this median.

• Chakarabani Street: Rs 2,001 per sq.ft (2024)
• Chirpi Naagar I & II: Rs 1,500 per sq.ft (2024)
• Defence Colony: Rs 1,500 per sq.ft (2024)
• Bharathiyar Street: Rs 1,500 per sq.ft (2024)
• Devaraj Naikkar Street: Rs 1,200 per sq.ft (2024)
• Devi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chellappa Colony

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, and the registration fee at 2% would be Rs 40,020, bringing the total cost to Rs 1,80,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chellappa Colony?

Chellappa Colony is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical component in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory for property transactions.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are paid. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Chellappa Colony?

The current guideline value of Chellappa Colony is Rs 2,001 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, from Rs 1,340 per sq.ft to Rs 2,001 per sq.ft in 2024.

What are the other streets in Gooduvancheri with their guideline values?

Other streets in Gooduvancheri include Chakarabani Street at Rs 2,001 per sq.ft, Chirpi Naagar I & II at Rs 1,500 per sq.ft, and Defence Colony at Rs 1,500 per sq.ft, among others.

What is the registration office for Chellappa Colony?

The registration office for Chellappa Colony is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202.

How is stamp duty calculated in Chellappa Colony?

Stamp duty in Chellappa Colony is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 20,01,000 would incur a stamp duty of Rs 1,40,070 at 7%.