Guideline Value for Chelliamman Nagar 5th Street

Chelliamman Nagar 5th Street guideline value

The current guideline value of Chelliamman Nagar 5th Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO with a land classification of Residential Class I Type - I.

How the guideline value of Chelliamman Nagar 5th Street has changed

Over the years, the guideline value for Chelliamman Nagar 5th Street has seen several revisions. The earliest recorded figure is from 2007, which was Rs 1,000 per sq.ft. This value increased significantly to Rs 3,000 per sq.ft in 2012. There was no recorded figure for the years 2002, 2003, and 2017. In 2023, the value remained at Rs 3,000 per sq.ft, before rising to the current value of Rs 3,300 per sq.ft in 2024, marking a 10% increase.

From the 2007 revision to the 2024 revision, the overall increase in the guideline value is 230%. The changes between the revisions are as follows: from 2007 to 2012, there was a substantial increase of 200%, while from 2012 to 2023, there was no change. The most recent change from 2023 to 2024 reflects a 10% increase in the guideline value.

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 aligns with the current guideline value of Chelliamman Nagar 5th Street.

• Chelliamman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 1st Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Nagar 5th 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, totaling 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 5th Street?

The Sub Registrar Office that covers Chelliamman Nagar 5th 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 in property transactions in Kolathur, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the guideline value when engaging in property transactions. This ensures compliance with local regulations and helps in understanding the financial implications associated with the registration process.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar 5th Street?

The current guideline value of Chelliamman Nagar 5th 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 from Rs 1,000 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 230%.

Which Sub Registrar Office covers this street?

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

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.

What are the guideline values of other streets in Kolathur?

Other streets in Kolathur have a guideline value of Rs 3,300 per sq.ft in 2024, including Chelliamman Nagar 1st, 2nd, 3rd, 4th, 6th, and 7th Streets.