Guideline Value for Chelliamman Colony 1st Street

Chelliamman Colony 1st Street guideline value

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

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

The guideline value for Chelliamman Colony 1st 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, it then decreased to Rs 1,675 per sq.ft in 2017. The value rose again to Rs 2,500 per sq.ft in 2023, and currently stands at Rs 2,700 per sq.ft as of the 2024 revision. The changes from 2017 to 2023 reflect a notable increase of 49%, while the jump from 2023 to 2024 is an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 170%.

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. Chelliamman Colony 1st Street's 2024 guideline value is below this median.

• Chelliamman Colony 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total cost for these fees to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chelliamman Colony 1st Street?

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

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

The guideline value is a crucial factor when registering property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees, which are essential costs associated with property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

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

The current guideline value of Chelliamman Colony 1st 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 are the other streets with the same guideline value in Peravallur?

Other streets in Peravallur with the same guideline value of Rs 2,700 per sq.ft include Chelliamman Colony 1st Cross Street, Chelliamman Colony 2nd Street, and various streets in Chelliamman Koil.

What fees are associated with property transactions in Chelliamman Colony 1st Street?

When transacting property in Chelliamman Colony 1st Street, buyers should consider stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Chelliamman Colony 1st Street?

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