Guideline Value for Chengalamman Nagar Annex

Chengalamman Nagar Annex guideline value

The current guideline value of Chengalamman Nagar Annex is Rs 400 per sq.ft. This area is located in Nallur_2 village and falls under the Redhills SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Chengalamman Nagar Annex has changed

In the 2017 revision, the guideline value was recorded at Rs 268 per sq.ft. This was an increase from previous revisions, but the register has no figure for the years 2002, 2003, 2007, and 2012 for this street. The most recent revision in 2023 saw a significant increase to Rs 400 per sq.ft, marking a change of +49% from the 2017 figure.

The guideline value has seen a notable rise from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023. This increase reflects the latest valuation but does not include any figures for the 2024 revision, as it has not yet been published for this street.

Guideline values in Nallur_2

Currently, there are no specific village figures available for Nallur_2. Chengalamman Nagar Annex is one of the streets under the Redhills SRO.

Stamp duty and registration fee for property in Chengalamman Nagar Annex

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chengalamman Nagar Annex?

The Chengalamman Nagar Annex is covered by 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 Nallur_2

The guideline value is a critical factor in property transactions in Nallur_2, as it determines the amount of stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When purchasing or selling property, the guideline value serves as a benchmark for assessing the transaction value. It is essential for both parties to understand this value, as it directly influences the costs associated with the registration of the property.

Frequently asked questions

What is the current guideline value of Chengalamman Nagar Annex?

The current guideline value of Chengalamman Nagar Annex is Rs 400 per sq.ft, as per the latest revision in 2023.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 268 per sq.ft to Rs 400 per sq.ft in 2023, which is a change of +49%.

What is the land classification for Chengalamman Nagar Annex?

The land classification for Chengalamman Nagar Annex is Residential Class III Type - I, indicating its designation for residential use.

Where is the Redhills Sub Registrar Office located?

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

How is the stamp duty calculated for properties in Chengalamman Nagar Annex?

The stamp duty for properties in Chengalamman Nagar Annex is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 4,00,000 would incur a stamp duty of Rs 28,000.