Guideline Value for Chembers Colony 2nd Cross St.

Chembers Colony 2nd Cross St. guideline value

The current guideline value of Chembers Colony 2nd Cross St. is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Chembers Colony 2nd Cross St. has changed

The guideline value has seen several changes over the years. In 2003, the value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007, marking a 45% increase. Following this, there was a significant rise to Rs 3,000 per sq.ft in 2012, representing a 200% increase. However, from 2012 to 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The most recent revision in 2024 brought the value back up to Rs 3,300 per sq.ft, a 64% increase from the 2017 figure.

It is important to note that the register does not have figures for the years 2023 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by 378%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Chembers Colony 2nd Cross St.

• Chembers Colony 1st Watchman Quars.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 1st Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 1st Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 2nd Cross St.

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the 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. Please 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 Chembers Colony 2nd Cross St.?

The Sub Registrar Office that covers Chembers Colony 2nd Cross St. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to calculate the stamp duty. This ensures that the fees are based on an accurate valuation of the property being transferred.

Frequently asked questions

What is the current guideline value of Chembers Colony 2nd Cross St.?

The current guideline value of Chembers Colony 2nd Cross St. is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2003, the guideline value has increased from Rs 690 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 378%.

What are the stamp duty and registration fees for property in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,97,000.

Which Sub Registrar Office covers Chembers Colony 2nd Cross St.?

The Pallavaram Sub Registrar Office covers Chembers Colony 2nd Cross St., located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Chembers Colony 2nd Cross St.?

Chembers Colony 2nd Cross St. is classified as Residential Class I Type - II.