Guideline Value for Chembers Colony 3rd Cross St.

Chembers Colony 3rd Cross St. guideline value

The current guideline value of Chembers Colony 3rd 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 3rd Cross St. has changed

The guideline value for Chembers Colony 3rd Cross St. has seen several revisions 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 significant rise of 45%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable increase of 200%. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. Following this, the value climbed to Rs 3,000 per sq.ft in 2023, and most recently, it has been set at Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 378%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is the same as the 2024 figure for Chembers Colony 3rd Cross St.

• Chembers Colony 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 2nd Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 4th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 1st Watchman Quars.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 5th Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 3rd Cross St.

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total 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, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chembers Colony 3rd Cross St.?

The Sub Registrar Office that covers Chembers Colony 3rd 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 additional information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to understand the financial implications of the transaction, including taxes and fees associated with the registration process.

Frequently asked questions

What is the current guideline value of Chembers Colony 3rd Cross St.?

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

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 378% over the years.

What is the land classification for Chembers Colony 3rd Cross St.?

Chembers Colony 3rd Cross St. is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for this area?

The Pallavaram Sub Registrar Office covers Chembers Colony 3rd Cross St. and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Chembers Colony 3rd Cross St.?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot, the stamp duty would be Rs 2,31,000 based on the current guideline value.