Guideline Value for Chelliamman Colony 1st Cross Street

Chelliamman Colony 1st Cross Street guideline value

The current guideline value of Chelliamman Colony 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Chelliamman Colony 1st Cross Street has changed

The guideline value for Chelliamman Colony 1st Cross Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,675 per sq.ft in 2017. The value then rose to Rs 2,500 per sq.ft in 2023 and has now reached Rs 2,700 per sq.ft in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The 2023 to 2024 revision shows an increase of 8%. Overall, from 2007 to 2024, the guideline value has increased by 170%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. The guideline value for Chelliamman Colony 1st Cross Street is below this median.

• Chelliamman Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 1st Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 2nd Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 2nd Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Colony 1st Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 2,700 per sq.ft, the guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chelliamman Colony 1st Cross Street?

The Sub Registrar Office that covers Chelliamman Colony 1st Cross Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process of property transactions in Peravallur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for legal documentation and ensures transparency in property transactions.

Frequently asked questions

What is the current guideline value for Chelliamman Colony 1st Cross Street?

The current guideline value for Chelliamman Colony 1st Cross Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 170% over the years.

What is the land classification for Chelliamman Colony 1st Cross Street?

The land classification for Chelliamman Colony 1st Cross Street is Residential Class I Type - I.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 and the registration fee would be Rs 54,000, totaling Rs 2,43,000.

Where is the Sub Registrar Office for Chelliamman Colony 1st Cross Street located?

The Sub Registrar Office for Chelliamman Colony 1st Cross Street is located at 5, Papermills Road, Sembiam, Chennai - 600011.