Guideline Value for Chembers Colony 5th Cross St.

Chembers Colony 5th Cross St. guideline value

The current guideline value for Chembers Colony 5th Cross St. in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class I Type - II land classification and is registered with the Pallavaram SRO.

How the guideline value of Chembers Colony 5th Cross St. has changed

Over the years, the guideline value for Chembers Colony 5th Cross St. has seen significant changes. In the 2003 revision, the value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. The value then surged by 200% to reach Rs 3,000 per sq.ft in 2012. However, it dropped to Rs 2,010 per sq.ft in 2017, before rising again to Rs 3,000 per sq.ft in 2023. The most recent revision in 2024 has set the value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Comparing the 2012 figure to 2017, the value decreased by 33%. The substantial rise from 2003 to 2024 is 378%, showcasing the overall growth in guideline values over the years.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 3,300 per sq.ft, which is the same as the 2024 figure for Chembers Colony 5th Cross St.

• Chembers Colony 4th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 6th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th A Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th B Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 5th 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, calculated at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Therefore, the total amount payable for stamp duty and registration fees together would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chembers Colony 5th Cross St.?

The Chembers Colony 5th Cross St. is covered by 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 in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value of the property during registration. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions based on the established guideline values.

Frequently asked questions

What is the current guideline value for Chembers Colony 5th Cross St.?

The current guideline value for Chembers Colony 5th 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, showing an overall increase of 378% over these years.

What is the land classification for Chembers Colony 5th Cross St.?

Chembers Colony 5th Cross St. is classified as Residential Class I Type - II, which indicates its suitability for residential development.

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

The Sub Registrar Office covering Chembers Colony 5th Cross St. is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.