Guideline Value for Chembers Colony 4th Cross St.

Chembers Colony 4th Cross St. guideline value

The current guideline value of Chembers Colony 4th 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, and is classified as Residential Class I Type - II.

How the guideline value of Chembers Colony 4th Cross St. has changed

The guideline value for Chembers Colony 4th 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. This marked a significant rise of 45%. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable growth of 200%. However, it dropped to Rs 2,010 per sq.ft in 2017, showing a decrease of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

It is important to note that the register has no figure for the year 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 for these streets is Rs 3,300 per sq.ft, which is equal to the 2024 figure for Chembers Colony 4th Cross St.

• Chembers Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 5th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 6th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th A Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 4th 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 would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is essential to note that the 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 4th Cross St.?

The Sub Registrar Office that covers Chembers Colony 4th 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 crucial factor when buying or selling property in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they are complying with the necessary legal requirements.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chembers Colony 4th Cross St.?

The current guideline value of Chembers Colony 4th 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 4th Cross St.?

Chembers Colony 4th Cross St. is classified as Residential Class I Type - II.

Where is the Pallavaram Sub Registrar Office located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Chembers Colony 4th Cross St.?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a total stamp duty of Rs 2,31,000.