Guideline Value for Chellappa Naicken St

Chellappa Naicken St guideline value

The current guideline value of Chellappa Naicken St is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village, under the Chennai Central Joint I SRO, and is classified as Residential Class I Type - III.

How the guideline value of Chellappa Naicken St has changed

The guideline value for Chellappa Naicken St has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 8,700 per sq.ft, which is an increase of 9% from the 2023 revision of Rs 8,000 per sq.ft. Prior to this, there are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the guideline value has increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. The earlier revisions do not provide any figures for Chellappa Naicken St, indicating a lack of recorded values for those years.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO, with guideline values ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Chellappa Naicken St's 2024 figure below this median.

• Chenti Chetty Street: Rs 8,700 per sq.ft (2024)
• Chamiers Road / Pasumpon: Rs 17,600 per sq.ft (2024)
• Chamiers Lane: Rs 8,700 per sq.ft (2024)
• Chamiers 4th Lane: Rs 8,700 per sq.ft (2024)
• Chamiers 3rd Lane: Rs 8,700 per sq.ft (2024)
• Chamiers 2nd Lane: Rs 8,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chellappa Naicken St

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total cost for these fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chellappa Naicken St?

The Sub Registrar Office that covers Chellappa Naicken St is the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for further assistance.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role in the registration process when buying or selling property in Mylapore Part 2. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is in compliance with local regulations. This value helps in maintaining transparency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Chellappa Naicken St?

The current guideline value of Chellappa Naicken St is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002.

What is the median guideline value in Mylapore Part 2?

The median guideline value for streets in Mylapore Part 2 is Rs 8,800 per sq.ft, which is higher than the current value of Chellappa Naicken St.

What are the stamp duty rates applicable?

The stamp duty rate is 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the same.

Where can I find the Sub Registrar Office for Chellappa Naicken St?

The Sub Registrar Office for Chellappa Naicken St is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.