Guideline Value for Chelli Nagar Main Road

Chelli Nagar Main Road guideline value

The current guideline value of Chelli Nagar Main Road is Rs 3,750 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Chelli Nagar Main Road has changed

The guideline value for Chelli Nagar Main Road has undergone several revisions over the years. The 2012 revision set the value at Rs 3,500 per sq.ft, which was then reduced to Rs 2,345 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 3,500 per sq.ft, and the latest 2024 revision further raised it to Rs 3,750 per sq.ft, marking a 7% increase from the previous year.

Looking at the changes, from 2017 to 2023, there was a significant increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 7%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this area is Rs 2,150 per sq.ft, making the 2024 figure for Chelli Nagar Main Road above that median.

• Chelli Nagar Kambar Street: Rs 3,750 per sq.ft (2024)
• Chelli Nagar: Rs 3,750 per sq.ft (2024)
• Chilappathigaram Street: Rs 850 per sq.ft (2024)
• Chimaya Colony: Rs 2,150 per sq.ft (2024)
• Chimaya Colony Cross Street: Rs 2,150 per sq.ft (2024)
• Chitlapakkam Main Road: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Chelli Nagar Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,750 per sq.ft, the total guideline value would be Rs 37,50,000. The stamp duty at 7% would amount to Rs 2,62,500, and the registration fee at 2% would be Rs 75,000, bringing the total fees to Rs 3,37,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chelli Nagar Main Road?

The Sub Registrar Office that covers Chelli Nagar Main Road is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Rajakilpakkam. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value is set by the government and reflects the minimum value for property transactions in the area.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes on property transactions, which are essential for funding public services and infrastructure in the region.

Frequently asked questions

What is the current guideline value of Chelli Nagar Main Road?

The current guideline value of Chelli Nagar Main Road is Rs 3,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,750 per sq.ft in 2024, an increase of 7%. It was Rs 2,345 per sq.ft in 2017, showing a 49% increase from that figure to 2023.

What is the land classification for Chelli Nagar Main Road?

Chelli Nagar Main Road is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Chelli Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 37,50,000 would incur a stamp duty of Rs 2,62,500 at a rate of 7%.