Guideline Value for Chembers Colony Main Road

Chembers Colony Main Road guideline value

The current guideline value of Chembers Colony Main Road is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Mixed Type - I land.

How the guideline value of Chembers Colony Main Road has changed

The guideline value for Chembers Colony Main Road has seen several revisions over the years. In 2003, the value was Rs 690 per sq.ft, which increased significantly to Rs 1,900 per sq.ft by 2007, marking a change of +175%. The value continued to rise, reaching Rs 3,500 per sq.ft in 2012, an increase of +84% from the previous revision. The next revision in 2023 set the value at Rs 3,750 per sq.ft, reflecting a +7% change. The latest revision in 2024 brings the guideline value to Rs 3,850 per sq.ft, a +3% increase from 2023.

There are no figures available for the revisions in 2017 and 2002 for this street. Overall, from 2003 to 2024, the guideline value has increased by +458%.

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 for these streets is Rs 3,300 per sq.ft, making the current value of Chembers Colony Main Road above the median.

• Chembers Colony 9th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 8th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th Cross St.: Rs 3,300 per sq.ft (2024)
• Chembers Colony 7th B Cross St.: Rs 3,300 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 Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chembers Colony Main Road?

The Sub Registrar Office that covers Chembers Colony Main Road 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 when registering property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be sold or purchased. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate taxes based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Chembers Colony Main Road?

The current guideline value of Chembers Colony Main Road is Rs 3,850 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 3,850 per sq.ft in 2024, marking an overall increase of +458% over this period.

What are the other streets in Zaminpallavaram?

Other streets in Zaminpallavaram include Chembers Colony 9th Cross St., 8th Cross St., 7th Cross St., 7th B Cross St., 7th A Cross St., and 6th Cross St., all valued at Rs 3,300 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Chembers Colony Main Road?

For a property valued at Rs 38,50,000, the stamp duty is Rs 2,69,500, and the registration fee is Rs 77,000, totaling Rs 3,46,500.

Which office handles property registrations for Chembers Colony Main Road?

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