Guideline Value for Chelliamman Koil Street

Chelliamman Koil Street guideline value

The current guideline value of Chelliamman Koil 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 Street has changed

Over the years, the guideline value of Chelliamman Koil Street has seen several revisions. The 2007 revision set the value at Rs 300 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, there was a significant drop to Rs 335 per sq.ft in 2017. The value then rose to Rs 500 per sq.ft in 2023, and the most recent revision in 2024 brought it to Rs 550 per sq.ft, marking a 10% increase from the previous year.

In summary, from the 2007 revision to the 2024 revision, the overall increase in guideline value is 83%. Notably, there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Nallur

Nallur village has a range of guideline values, with 39 streets under the Redhills SRO carrying a 2024 figure between Rs 440 to Rs 1,650 per sq.ft. The median value is Rs 550 per sq.ft, which is equal to the current guideline value of Chelliamman Koil Street.

• Chelliamman Koil 2nd Cross Street: Rs 550 per sq.ft (2024)
• Chelliamman Koil 1st Cross 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chelliamman Koil Street?

The Sub Registrar Office that covers Chelliamman Koil 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 information.

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

The guideline value is a crucial factor during property registration in Nallur. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as determined by the government.

When buying or selling property, the guideline value helps to establish a transparent process, making it easier for both parties to understand their financial obligations. It is essential for buyers and sellers to be aware of these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Chelliamman Koil Street?

The current guideline value of Chelliamman Koil 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 this period.

What are the stamp duty and registration fees for properties in Chelliamman Koil Street?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office handles registrations for Chelliamman Koil Street?

The Redhills Sub Registrar Office is responsible for registrations in Chelliamman Koil Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Chelliamman Koil Street?

Chelliamman Koil Street is classified as Residential Class II Type - I, indicating its suitability for residential development.