Guideline Value for Chelliamman Nagar 3rd street

Chelliamman Nagar 3rd street guideline value

The current guideline value of Chelliamman Nagar 3rd 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 3rd street has changed

In the 2017 revision, the guideline value was Rs 3,015 per sq.ft. This figure increased significantly to Rs 4,500 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 saw another increase of 10%, bringing the current value to Rs 4,950 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Chelliamman Nagar 3rd street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value is Rs 4,400 per sq.ft, making the 2024 figure for Chelliamman Nagar 3rd street above this median.

• Chelliamman Nagar 2nd street: Rs 4,950 per sq.ft (2024)
• Chelliamman Nagar 1st street: Rs 4,950 per sq.ft (2024)
• Chelliamman Nagar Main Road: Rs 4,950 per sq.ft (2024)
• Chelliamman Lane (Selliamman Lane): Rs 4,400 per sq.ft (2024)
• Chellappa 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 3rd street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, totaling Rs 4,45,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Chelliamman Nagar 3rd street?

The Sub Registrar Office covering Chelliamman Nagar 3rd 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 information.

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

The guideline value is an essential factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar 3rd street?

The current guideline value of Chelliamman Nagar 3rd street is Rs 4,950 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased from Rs 3,015 per sq.ft to Rs 4,950 per sq.ft in 2024, representing a total increase of 64% over these years.

What is the land classification for Chelliamman Nagar 3rd street?

Chelliamman Nagar 3rd street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Which office handles registrations for Chelliamman Nagar 3rd street?

The Velacheri Sub Registrar Office handles registrations for Chelliamman Nagar 3rd street, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. The current rates are 7% for stamp duty and 2% for registration fees.