Guideline Value for Chelliamman Koil 2nd Street

Chelliamman Koil 2nd Street guideline value

The current guideline value of Chelliamman Koil 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 SRO. The land classification for this area is Residential Class I Type - I.

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

The guideline value for Chelliamman Koil 2nd Street has seen several revisions over the years. In 2007, the guideline value was Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this figure then decreased to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the most recent 2024 revision increased it to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, 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 with a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value for these streets is Rs 3,301 per sq.ft, which means that the guideline value for Chelliamman Koil 2nd Street is below this median.

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

Stamp duty and registration fee for property in Chelliamman Koil 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, bringing the total 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 accurate calculations.

Which Sub Registrar Office covers Chelliamman Koil 2nd Street?

The Sub Registrar Office that covers Chelliamman Koil 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 during property registration in Peravallur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the property is not undervalued in the eyes of the law.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that the fees will be based on the higher of the guideline value or the sale price, which ensures transparency in property transactions.

Frequently asked questions

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

The current guideline value of Chelliamman Koil 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, marking a total 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 for Chelliamman Koil 2nd Street?

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

What is the land classification for Chelliamman Koil 2nd Street?

The land classification for Chelliamman Koil 2nd Street is Residential Class I Type - I, indicating its suitability for residential development.