Guideline Value for Chembers Colony 6th Cross St.

Chembers Colony 6th Cross St. guideline value

The current guideline value of Chembers Colony 6th 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 6th Cross St. has changed

Over the years, the guideline value for Chembers Colony 6th Cross St. has seen several revisions. The 2003 revision set the value at Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. Following this, the value rose significantly by 200% to reach Rs 3,000 per sq.ft in 2012. However, it then decreased by 33% to Rs 2,010 per sq.ft in 2017. The value saw a substantial increase of 49% to Rs 3,000 per sq.ft in 2023, before reaching the current rate of Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase.

It is worth noting that the register has no figure for this street in 2002. 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 6th Cross St.

• Chembers Colony 5th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th A Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 4th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th B Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 6th 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 is calculated at 7%, which totals Rs 2,31,000, and the registration fee at 2% amounts to Rs 66,000. Together, the total cost for these fees is 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 use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chembers Colony 6th Cross St.?

The Sub Registrar Office that covers Chembers Colony 6th 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 plays a crucial role during the registration of property transactions in Zaminpallavaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is compliant with local regulations.

When buying or selling property, the guideline value is referenced to ascertain the minimum value for which the property can be registered. This ensures that all transactions are recorded accurately and transparently, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Chembers Colony 6th Cross St.?

The current guideline value of Chembers Colony 6th 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 from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 378% over this period.

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

The stamp duty is charged at 7% of the guideline value, and the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 2,97,000 in fees based on the current guideline value.

Which office handles property registrations for Chembers Colony 6th Cross St.?

The Pallavaram Sub Registrar Office handles property registrations for Chembers Colony 6th Cross St. It is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the significance of the guideline value in property transactions?

The guideline value is essential in determining the minimum value for property registration and calculating the associated stamp duty and registration fees. It ensures that property transactions are conducted fairly and transparently.