Guideline Value for Chembers Colony 7th B Cross St.

Chembers Colony 7th B Cross St. guideline value

The current guideline value for Chembers Colony 7th B Cross St. is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village and falls under the Pallavaram SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chembers Colony 7th B Cross St. has changed

Over the years, the guideline value for Chembers Colony 7th B Cross St. has seen several revisions. In 2003, the guideline 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 increase of 200%. However, in 2017, it decreased to Rs 2,010 per sq.ft, a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023, and as of 2024, it stands at Rs 3,300 per sq.ft, showing a 10% increase from the previous year.

In summary, the guideline value has increased from Rs 690 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, an overall increase of 378%. It is important to note that the register has no figure for this street in 2002.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 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 equal to the 2024 figure for Chembers Colony 7th B Cross St.

• Chembers Colony 7th A Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 6th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 8th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 5th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 9th Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 7th B 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 to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chembers Colony 7th B Cross St.?

The Sub Registrar Office that covers Chembers Colony 7th B Cross St. is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the 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 during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is essential for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations during the sale process.

Frequently asked questions

What is the current guideline value for Chembers Colony 7th B Cross St.?

The current guideline value for Chembers Colony 7th B 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, with various revisions in between, including a decrease in 2017.

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

The land classification for Chembers Colony 7th B Cross St. is Residential Class I Type - II.

What are the stamp duty and registration fees for a property here?

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 handles registrations for Chembers Colony 7th B Cross St.?

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