Guideline Value for Chelliamman Nagar 7th Street

Chelliamman Nagar 7th Street guideline value

The current guideline value of Chelliamman Nagar 7th 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. The land classification for this area is Residential Class I Type - I.

How the guideline value of Chelliamman Nagar 7th Street has changed

The guideline value for Chelliamman Nagar 7th Street has seen several revisions over the years. Starting from Rs 1,000 per sq.ft in 2007, it increased significantly to Rs 3,000 per sq.ft in 2012, marking a 200% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, reflecting a decline of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, and subsequently to Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, 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, with the median value being Rs 3,300 per sq.ft. Chelliamman Nagar 7th Street's 2024 guideline value aligns with this median.

• Chelliamman Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 5th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 4th Street: Rs 3,300 per sq.ft (2024)
• Chelliamman Nagar 3rd 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 7th 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, and the registration fee at 2% would be Rs 66,000, leading to a total of Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chelliamman Nagar 7th Street?

The Sub Registrar Office that covers Chelliamman Nagar 7th 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 plays a crucial role in property transactions in Kolathur. It is used as a basis for calculating the stamp duty and registration fees during the sale or purchase of a property. This ensures that the government receives the appropriate revenue from property transactions.

When registering a property, buyers must adhere to the guideline value set for the specific street. This value is utilized to determine the official price of the property, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar 7th Street?

The current guideline value of Chelliamman Nagar 7th Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much 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, which is an overall increase of 230% over the years.

What are the other streets in Kolathur with the same guideline value?

Other streets in Kolathur with the same guideline value of Rs 3,300 per sq.ft include Chelliamman Nagar 1st Street, 2nd Street, 3rd Street, 4th Street, 5th Street, and 6th Street.

What are the fees associated with buying property in Chelliamman Nagar 7th Street?

The fees associated with buying property include a stamp duty of 7% on the guideline value and a registration fee of 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Where can I find the Sub Registrar Office for Chelliamman Nagar 7th Street?

The Sub Registrar Office for Chelliamman Nagar 7th Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.