Guideline Value for Chelliamman Nagar Main Road

Chelliamman Nagar Main Road guideline value

The current guideline value of Chelliamman Nagar Main Road is Rs 4,950 per sq.ft, effective from 1 July 2024. This road is located in Velachery village, under the Velacheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chelliamman Nagar Main Road has changed

The guideline value for Chelliamman Nagar Main Road has undergone several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 1,500 per sq.ft. This figure increased significantly to Rs 3,015 per sq.ft in 2017, marking a 101% rise. The next revision in 2023 set the value at Rs 4,500 per sq.ft, which was a 49% increase from the previous value. The latest revision in 2024 raised the guideline value to Rs 4,950 per sq.ft, reflecting a 10% increase from 2023. It is important to note that there are no figures available for the years 2002, 2003, and 2012 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. This substantial rise indicates the changing valuation of properties along Chelliamman Nagar Main Road over the years.

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 as of 2024. The median value for these streets is Rs 4,400 per sq.ft, placing the 2024 guideline value of Chelliamman Nagar Main Road above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty at 7% would be Rs 3,46,500, while the registration fee at 2% would be Rs 99,000, bringing the total cost 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 on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chelliamman Nagar Main Road?

The Sub Registrar Office that covers Chelliamman Nagar Main Road 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 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, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, understanding the guideline value helps buyers and sellers to accurately assess their financial obligations. It is crucial to refer to the latest revisions to ensure compliance with the current rates.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar Main Road?

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

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2007 to Rs 4,950 per sq.ft in 2024. Significant increases occurred in 2017 and 2023, with a total rise of 230% from the 2007 revision to the 2024 revision.

What is the median guideline value in Velachery?

The median guideline value for streets in Velachery is Rs 4,400 per sq.ft as of 2024. Chelliamman Nagar Main Road's guideline value is above this median.

What are the stamp duty and registration fees for property in Chelliamman Nagar Main Road?

For a property valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500 and the registration fee would be Rs 99,000, totaling Rs 4,45,500. Fees are based on the higher of the guideline value or the sale price.

Which office handles registrations for Chelliamman Nagar Main Road?

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