Guideline Value for Chembers Colony 8th Cross St.

Chembers Colony 8th Cross St. guideline value

The current guideline value of Chembers Colony 8th 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 it falls under the Residential Class I Type - II land classification.

How the guideline value of Chembers Colony 8th Cross St. has changed

The guideline value for Chembers Colony 8th Cross St. has undergone several revisions over the years. In 2003, the guideline value was Rs 690 per sq.ft, which increased to Rs 1,000 per sq.ft in 2007. The value saw a significant rise of 200% to Rs 3,000 per sq.ft in 2012, but then it decreased by 33% to Rs 2,010 per sq.ft in 2017. The 2023 revision set the value at Rs 3,000 per sq.ft, followed by a 10% increase to the current value of Rs 3,300 per sq.ft in 2024.

There is no figure available for the 2002 revision 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, with the median being Rs 3,300 per sq.ft. The guideline value for Chembers Colony 8th Cross St. is equal to this median.

• Chembers Colony 7th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 9th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th B Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony Main Road: Rs 3,850 per sq.ft (2024)
• Chembers Colony 7th A Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 6th Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chembers Colony 8th 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 cost for these fees to 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 also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Chembers Colony 8th Cross St.?

The Sub Registrar Office that covers Chembers Colony 8th 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 details.

How the guideline value is used when you buy or sell in Zaminpallavaram

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

It is essential for buyers and sellers to be aware of the current guideline value as it can significantly impact the overall cost of the transaction. Understanding this value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Chembers Colony 8th Cross St.?

The current guideline value of Chembers Colony 8th 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 the years.

What is the stamp duty rate for properties in Chembers Colony 8th Cross St.?

The stamp duty rate for properties in Chembers Colony 8th Cross St. is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for Chembers Colony 8th Cross St.?

The Sub Registrar Office for Chembers Colony 8th Cross St. is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the land classification for Chembers Colony 8th Cross St.?

Chembers Colony 8th Cross St. is classified as Residential Class I Type - II under the land classification system.