Guideline Value for Chelliamman Nagar

Chelliamman Nagar guideline value

The current guideline value of Chelliamman Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chelliamman Nagar has changed

The guideline value of Chelliamman Nagar has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. It then decreased to Rs 1,005 per sq.ft in the 2017 revision. However, with the 2024 revision, the value increased significantly to Rs 1,600 per sq.ft, marking a 59% rise from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has increased by 33%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2023 for this street.

Guideline values in Madhavaram

In Madhavaram, there are a total of 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, which is the same as the current value for Chelliamman Nagar.

• Chelliamman Koil St (Ward-07): Rs 1,600 per sq.ft (2024)
• Chelliamman Koil Street (Ward-6): Rs 1,600 per sq.ft (2024)
• Chellaiya Nagar, Ponniammanmedu (Ward-23): Rs 1,600 per sq.ft (2024)
• Chellaiya Nagar: Rs 1,600 per sq.ft (2024)
• Chandra Prabu Colony: Rs 1,600 per sq.ft (2024)
• Chandraprabhu Layout 3rd Main Road (Ward No.20): Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chelliamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chelliamman Nagar?

The Sub Registrar Office that covers Chelliamman Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, in the Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable during the registration process.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction reflects the current market conditions as per the guidelines set by the registration department.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar?

The current guideline value of Chelliamman Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,600 per sq.ft in 2024.

What is the land classification of Chelliamman Nagar?

Chelliamman Nagar is classified as Residential Class II Type - I, indicating its designation for residential purposes.

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

The Sub Registrar Office for Chelliamman Nagar is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Chelliamman Nagar?

The stamp duty for properties in Chelliamman Nagar is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.