Guideline Value for Chelliamman Koil 2nd Cross Street

Chelliamman Koil 2nd Cross Street guideline value

The current guideline value of Chelliamman Koil 2nd Cross Street is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Nallur village under the Redhills SRO, classified as Residential Class II Type - I.

How the guideline value of Chelliamman Koil 2nd Cross Street has changed

The guideline value for Chelliamman Koil 2nd Cross Street has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it experienced a decrease to Rs 335 per sq.ft in 2017. The following revision in 2023 set the value at Rs 500 per sq.ft, and the most recent revision in 2024 has increased it to Rs 550 per sq.ft, marking a 10% increase from the previous year. The register has no figure for this street in 2002 and 2003.

Overall, from 2007 to 2024, the guideline value has increased by 83%. The changes between the revisions include a 67% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, and a 49% increase from 2017 to 2023.

Guideline values in Nallur

In Nallur, there are 39 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,650 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the guideline value of Chelliamman Koil 2nd Cross Street.

• Chelliamman Koil 1st Cross Street: Rs 550 per sq.ft (2024)
• Chelliamman Koil Street: Rs 550 per sq.ft (2024)
• Chelliamman Nagar: Rs 440 per sq.ft (2024)
• Chengalamman Nagar Annex: Rs 440 per sq.ft (2024)
• Dhanalakshmi Nagar: Rs 440 per sq.ft (2024)
• Balasubramanian Nagar: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Koil 2nd Cross Street

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. Please note that the 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 more information.

Which Sub Registrar Office covers Chelliamman Koil 2nd Cross Street?

The Sub Registrar Office that covers Chelliamman Koil 2nd Cross Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential components of the transaction costs. It is important to be aware of the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

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

The current guideline value of Chelliamman Koil 2nd Cross Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 83% over the years.

What is the stamp duty for properties in Chelliamman Koil 2nd Cross Street?

The stamp duty for properties in Chelliamman Koil 2nd Cross Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Redhills Sub Registrar Office located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Nallur?

The median guideline value in Nallur is Rs 550 per sq.ft, which is the same as the guideline value for Chelliamman Koil 2nd Cross Street.