Guideline Value for Chelliamman Nagar 4th Street

Chelliamman Nagar 4th Street guideline value

The current guideline value of Chelliamman Nagar 4th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village under the Sembiam SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of Chelliamman Nagar 4th Street has changed

The guideline value for Chelliamman Nagar 4th Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 1,000 per sq.ft. This figure increased significantly to Rs 3,000 per sq.ft in the 2012 revision, marking a 200% rise. However, in the 2017 revision, the value dropped to Rs 2,010 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in the 2023 revision, and the most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

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 guideline value for these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Chelliamman Nagar 4th Street.

• Chelliamman Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• 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 4th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be 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.

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

Which Sub Registrar Office covers Chelliamman Nagar 4th Street?

The Sub Registrar Office that covers Chelliamman Nagar 4th 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 critical factor in the registration process when buying or selling property in Kolathur. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures transparency and fairness in property transactions, as the guideline value reflects the official valuation set by the authorities.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar 4th Street?

The current guideline value of Chelliamman Nagar 4th 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 seen several revisions: from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, with notable changes in between, including a drop in 2017 and rises in subsequent years.

What are the stamp duty and registration fees for property in Chelliamman Nagar 4th Street?

For a 1,000 sq.ft plot, the total guideline value is 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, totaling Rs 2,97,000 for both fees.

Which Sub Registrar Office covers Chelliamman Nagar 4th Street?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, covers Chelliamman Nagar 4th Street.

What is the median guideline value for streets in Kolathur?

The median guideline value for the 879 streets in Kolathur under the Sembiam SRO is Rs 3,300 per sq.ft, which is the same as the current guideline value for Chelliamman Nagar 4th Street.