Guideline Value for Chelliamman Nagar

Chelliamman Nagar guideline value

The current guideline value of Chelliamman Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Thiruneermalai village under the Pammal SRO, classified as Residential Class II Type - I.

How the guideline value of Chelliamman Nagar has changed

The guideline value for Chelliamman Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, an increase from Rs 1,800 per sq.ft in 2023, marking a 10% rise. Prior to that, the 2017 revision recorded a value of Rs 1,206 per sq.ft, showing a significant increase of 49% when compared to the 2023 figure. The register has no figure for this street for the years 2012, 2007, 2003, and 2002.

Overall, from the 2017 revision to the current 2024 revision, the guideline value has increased by 64%. This reflects the changes in the area over the years, with the most substantial jump occurring between 2017 and 2023.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value for these streets is Rs 2,420 per sq.ft, indicating that the guideline value of Chelliamman Nagar is below this median.

• Chandran Nagar Main Road: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 5th Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 4th Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 3rd Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 2nd Cross Street: Rs 2,860 per sq.ft (2024)
• Chandran Nagar 1st Cross Street: Rs 2,860 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 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chelliamman Nagar?

The Sub Registrar Office that covers Chelliamman Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. It serves as a reference point for determining the stamp duty and registration fees that must be paid during the transaction process.

When a property is bought or sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chelliamman Nagar?

The current guideline value of Chelliamman Nagar is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the stamp duty for property in Chelliamman Nagar?

The stamp duty for property in Chelliamman Nagar is calculated at 7% of the higher of the guideline value or the sale price. For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600.

Which Sub Registrar Office should I visit for property registration?

You should visit the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075 for property registration related to Chelliamman Nagar.

What is the land classification of Chelliamman Nagar?

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