Guideline Value for Chelliamman Koil 2nd Street

Chelliamman Koil 2nd Street guideline value

The current guideline value for Chelliamman Koil 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

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. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 raised it to Rs 2,200 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value rose by 49%. The increase from 2023 to 2024 is 10%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%.

Guideline values in Irumpuliyur

In Irumpuliyur, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which matches the 2024 figure for Chelliamman Koil 2nd Street.

• Chelliamman Koil 2d Cross Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil Backside: Rs 1,650 per sq.ft (2024)
• Chelliamman Koil 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil Erikarai Street: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil Main Road: Rs 2,200 per sq.ft (2024)
• Chelliamman Koil Street: Rs 2,200 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 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. 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 detailed calculations.

Which Sub Registrar Office covers Chelliamman Koil 2nd Street?

The Sub Registrar Office that covers Chelliamman Koil 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Irumpuliyur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable stamp duty, which is charged on the higher of the guideline value or the sale price. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, starting from Rs 2,000 per sq.ft in 2012, decreasing to Rs 1,340 per sq.ft in 2017, and then increasing to Rs 2,000 per sq.ft in 2023 before reaching Rs 2,200 per sq.ft in 2024.

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

Chelliamman Koil 2nd Street is classified as Residential Special Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Chelliamman Koil 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%, along with a registration fee of Rs 44,000 at 2%.