Guideline Value for Chengalamman Garden

Chengalamman Garden guideline value

The current guideline value of Chengalamman Garden is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village and falls under the Redhills SRO. The land classification for this property is Residential Class III Type - I.

How the guideline value of Chengalamman Garden has changed

The guideline value for Chengalamman Garden has undergone several revisions over the years. In 2003, the guideline value was Rs 26 per sq.ft, which saw a significant increase to Rs 200 per sq.ft in 2007. This was followed by a jump to Rs 500 per sq.ft in 2012, but the value then decreased to Rs 335 per sq.ft in 2017. The 2023 revision marked an increase to Rs 500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 550 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2015%. Notably, the register has no figure for the year 2002 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 515 to Rs 3,500 per sq.ft, with a median value of Rs 660 per sq.ft. Chengalamman Garden's 2024 figure is below this median.

• Chengalamman Avenue: Rs 550 per sq.ft (2024)
• Chengalamman Nagar: Rs 550 per sq.ft (2024)
• Chengalamman Nagar Annex: Rs 770 per sq.ft (2024)
• Chengalamman Nagar Extn.: Rs 550 per sq.ft (2024)
• Chengallamman Nagar: Rs 550 per sq.ft (2024)
• Chenglamman Nagar (S.No.611/1A): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalamman Garden

For a 1,000 sq.ft plot at the current rate of Rs 550 per sq.ft, the guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, making the total Rs 49,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chengalamman Garden?

The Sub Registrar Office that covers Chengalamman Garden is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Sholavaram. When buying or selling property, it is essential to consider the guideline value, as it determines the stamp duty and registration fees applicable during the registration process.

Additionally, the guideline value is used by the government to assess property taxes and other related charges. Buyers and sellers should be aware of the current guideline value to ensure compliance with local regulations and to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Chengalamman Garden?

The current guideline value of Chengalamman Garden is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 26 per sq.ft in 2003 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 2015% over this period.

What are the stamp duty and registration fees for property in Chengalamman Garden?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 49,500.

Which Sub Registrar Office covers Chengalamman Garden?

The Redhills Sub Registrar Office covers Chengalamman Garden, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the land classification for Chengalamman Garden?

The land classification for Chengalamman Garden is Residential Class III Type - I.