Guideline Value for Chembers Colony 7th A Cross St.

Chembers Colony 7th A Cross St. guideline value

The current guideline value of Chembers Colony 7th A 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 7th A Cross St. has changed

The guideline value for Chembers Colony 7th A Cross St. has seen several revisions over the years. The oldest recorded figure is from 2003, with a value of Rs 690 per sq.ft. In 2007, this value increased to Rs 1,000 per sq.ft, marking a growth of 45%. By 2012, the value rose significantly to Rs 3,000 per sq.ft, reflecting a 200% increase. However, in 2017, the value dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then increased to Rs 3,000 per sq.ft in 2023, followed by a further rise to the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

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 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 current guideline value of Chembers Colony 7th A Cross St.

• Chembers Colony 6th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th B Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 5th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 4th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 8th Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 7th A Cross St.

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. 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 7th A Cross St.?

The Sub Registrar Office that covers Chembers Colony 7th A 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, ensuring that these fees are calculated based on an established value rather than fluctuating market prices.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable stamp duty. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Chembers Colony 7th A Cross St.?

The current guideline value of Chembers Colony 7th A 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 increased from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 378% over the years.

What is the land classification for Chembers Colony 7th A Cross St.?

Chembers Colony 7th A Cross St. is classified as Residential Class I Type - II, indicating its suitability for residential purposes.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office registers property transactions in Chembers Colony 7th A Cross St.?

The Pallavaram Sub Registrar Office is responsible for registering property transactions in Chembers Colony 7th A Cross St.