Guideline Value for Chelliamman Colony 2nd Street

Chelliamman Colony 2nd Street guideline value

The current guideline value of Chelliamman Colony 2nd 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 Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Chelliamman Colony 2nd Street has changed

The guideline value for Chelliamman Colony 2nd Street has undergone 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, marking a 150% rise. However, from 2012 to 2017, the value decreased by 33% to Rs 1,675 per sq.ft. The value then saw a substantial increase of 49% to Rs 2,500 per sq.ft in 2023, followed by an 8% rise to the current value of Rs 2,700 per sq.ft in 2024.

The register has no figure for Chelliamman Colony 2nd Street for the years 2002 and 2003. 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. The median guideline value for these streets is Rs 3,301 per sq.ft, placing Chelliamman Colony 2nd Street's 2024 figure below that median.

• Chelliamman Colony 1st Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Cross 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 2nd 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, totaling Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for precise calculations.

Which Sub Registrar Office covers Chelliamman Colony 2nd Street?

The Sub Registrar Office that covers Chelliamman Colony 2nd 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 crucial factor in the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are recorded at fair values.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Chelliamman Colony 2nd Street?

The current guideline value of Chelliamman Colony 2nd 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 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.

Which office handles property registrations in Chelliamman Colony 2nd Street?

The Sembiam Sub Registrar Office handles property registrations for Chelliamman Colony 2nd Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the median guideline value for streets in Peravallur?

The median guideline value for streets in Peravallur is Rs 3,301 per sq.ft, which is higher than the current value of Rs 2,700 per sq.ft for Chelliamman Colony 2nd Street.