Guideline Value for Chelliamman Nagar 1st street

Chelliamman Nagar 1st street guideline value

The current guideline value of Chelliamman Nagar 1st street is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class II 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 2017, the value was Rs 3,015 per sq.ft, which increased to Rs 4,500 per sq.ft in the 2023 revision. The most recent revision in 2024 set the value at Rs 4,950 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, and overall, from 2017 to 2024, the guideline value rose by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, placing Chelliamman Nagar 1st street above this median.

• Chelliamman Nagar 2nd street: Rs 4,950 per sq.ft (2024)
• Chelliamman Nagar 3rd street: Rs 4,950 per sq.ft (2024)
• Chelliamman Lane (Selliamman Lane): Rs 4,400 per sq.ft (2024)
• Chelliamman Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Chandru Street: Rs 3,850 per sq.ft (2024)
• Chandru Street: Rs 3,850 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 4,950 per sq.ft, the total guideline value would be Rs 49,50,000. The stamp duty at 7% would amount to Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total cost for these fees to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Chelliamman Nagar 1st street?

The Sub Registrar Office that covers Chelliamman Nagar 1st street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers should be aware of the guideline value to understand the financial implications of their transactions.

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 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, rising from Rs 3,015 per sq.ft to Rs 4,950 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value for Chelliamman Nagar 1st street in 2023 was Rs 4,500 per sq.ft.

Which Sub Registrar Office should I visit for transactions in Chelliamman Nagar 1st street?

The Velacheri Sub Registrar Office covers transactions in Chelliamman Nagar 1st street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is the stamp duty calculated for properties in Chelliamman Nagar 1st street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 at a rate of 7%.