Guideline Value for Chengalamman Nagar

Chengalamman Nagar guideline value

The current guideline value of Chengalamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This locality is situated in Sembulivaram village and falls under the Redhills SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Chengalamman Nagar has changed

Over the years, the guideline value of Chengalamman Nagar has seen several revisions. The earliest recorded revision was in 2007, where the guideline value was Rs 600 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. The value then saw a substantial increase to Rs 1,500 per sq.ft in 2023, followed by a further rise to Rs 1,650 per sq.ft in 2024, which is a 10% increase from the previous year. The register has no figures for the years 2002 and 2003 for this street.

From the 2007 revision to the current 2024 revision, the overall increase in the guideline value is 175%. The changes between the revisions highlight the fluctuations in property values within this locality.

Guideline values in Sembulivaram

Sembulivaram village has 16 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,650 per sq.ft. The median value for these streets is Rs 1,210 per sq.ft, placing Chengalamman Nagar's 2024 figure above that median.

• Daffodil Garden: Rs 1,210 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,210 per sq.ft (2024)
• Bajanai Koil Street: Rs 1,210 per sq.ft (2024)
• Azhagathamman Street: Rs 1,210 per sq.ft (2024)
• Azhagathamman Nagar: Rs 1,210 per sq.ft (2024)
• Gnt Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. 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 Chengalamman Nagar?

The Sub Registrar Office that covers Chengalamman Nagar 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 Sembulivaram

The guideline value is a crucial factor during property registration in Sembulivaram. It serves as the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value may differ from the actual sale price of the property.

When a property is sold, the buyer must pay the stamp duty based on the higher value between the guideline value and the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chengalamman Nagar?

The current guideline value of Chengalamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 600 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the other streets in Sembulivaram with their guideline values?

Other streets in Sembulivaram include Daffodil Garden, Eswaran Koil Street, Bajanai Koil Street, Azhagathamman Street, Azhagathamman Nagar, and Gnt Road, with values ranging from Rs 1,210 to Rs 1,650 per sq.ft in 2024.

What fees are associated with buying property in Chengalamman Nagar?

When buying property in Chengalamman Nagar, the stamp duty is charged at 7% and the registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Chengalamman Nagar located?

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