Guideline Value for Chelliamman Nagar 1st Street

Chelliamman Nagar 1st Street guideline value

The current guideline value of Chelliamman Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Chelliamman Nagar 1st Street has changed

The guideline value for Chelliamman Nagar 1st Street has seen several revisions over the years. In 2007, the value was Rs 1,000 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, this value dropped to Rs 2,010 per sq.ft in 2017, reflecting a decrease of 33% from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 3,300 per sq.ft, representing a substantial increase of 64% from 2017.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street in the register. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Chelliamman Nagar 1st Street.

• Chelliamman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chelliamman Nagar 1st Street?

The Sub Registrar Office covering Chelliamman Nagar 1st 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 Kolathur

The guideline value is a crucial factor when registering property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. Buyers and sellers must consider this value to ensure compliance with legal requirements.

When a property is sold, the guideline value helps in assessing the minimum price at which the property can be registered. This ensures transparency and fairness in property transactions, protecting both buyers and sellers.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar 1st Street?

The current guideline value of Chelliamman Nagar 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles the registration for Chelliamman Nagar 1st Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles the registration for Chelliamman Nagar 1st Street.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions, ensuring compliance with legal requirements and protecting the interests of both buyers and sellers.