Guideline Value for Chelli Nagar

Chelli Nagar guideline value

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

How the guideline value of Chelli Nagar has changed

Since the 2012 revision, the guideline value for Chelli Nagar has undergone several changes. The 2012 revision recorded a guideline value of Rs 3,500 per sq.ft, which then decreased to Rs 2,345 per sq.ft in 2017. Following this, the value increased significantly to Rs 3,500 per sq.ft in 2023, and currently stands at Rs 3,750 per sq.ft from the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%. The most recent change from 2023 to 2024 reflects a 7% increase. Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 7% in the guideline value.

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, with a median value of Rs 2,150 per sq.ft. Chelli Nagar's guideline value of Rs 3,750 per sq.ft is above this median.

• Chelli Nagar Kambar Street: Rs 3,750 per sq.ft (2024)
• Chelli Nagar Main Road: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 3,750 per sq.ft, the total guideline value amounts to Rs 37,50,000. The stamp duty at 7% would be Rs 2,62,500, and the registration fee at 2% would be Rs 75,000, bringing the total 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chelli Nagar?

The Sub Registrar Office that covers Chelli Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opposite 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 is a crucial factor in the registration process when buying or selling property in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair price.

When a property is sold, the buyer is required to pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chelli Nagar?

The current guideline value of Chelli Nagar 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 2012 to Rs 2,345 per sq.ft in 2017, then increased to Rs 3,500 per sq.ft in 2023, and is now Rs 3,750 per sq.ft in 2024.

What is the land classification of Chelli Nagar?

Chelli Nagar falls under the Commercial Class I Type - I land classification.

Where is the Selaiyur Sub Registrar Office located?

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

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

Stamp duty is calculated at 7% of 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.