Guideline Value for Chengallamman Nagar

Chengallamman Nagar guideline value

The current guideline value of Chengallamman Nagar is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sholavaram village, under the Redhills SRO, and is classified as Residential Class III Type - I.

How the guideline value of Chengallamman Nagar has changed

The guideline value for Chengallamman Nagar has undergone several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, it then decreased to Rs 335 per sq.ft in 2017. Following that, the value rose significantly to Rs 500 per sq.ft in 2023, and most recently, it has been set at Rs 550 per sq.ft in the 2024 revision. The register has no figure for this street in 2002 and 2003.

From 2007 to 2024, the overall increase in the guideline value is 175%. Specifically, the change from 2012 to 2017 was a decrease of 33%, while the increase from 2017 to 2023 was 49%. The most recent change from 2023 to 2024 represents a 10% increase.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO with 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. Chengallamman Nagar's 2024 figure of Rs 550 per sq.ft is below this median.

• Chengalamman Nagar Extn.: Rs 550 per sq.ft (2024)
• Chengalamman Nagar Annex: Rs 770 per sq.ft (2024)
• Chengalamman Nagar: Rs 550 per sq.ft (2024)
• Chengalamman Garden: Rs 550 per sq.ft (2024)
• Chengalamman Avenue: 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 Chengallamman Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees together to Rs 49,500. It is important to note that 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 Chengallamman Nagar?

The Sub Registrar Office that covers Chengallamman 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 Sholavaram

The guideline value is a crucial factor in the registration process when buying or selling property in Sholavaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

What is the current guideline value of Chengallamman Nagar?

The current guideline value of Chengallamman Nagar 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 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the stamp duty and registration fees for properties in Chengallamman Nagar?

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

Which Sub Registrar Office covers Chengallamman Nagar?

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

What is the land classification of Chengallamman Nagar?

Chengallamman Nagar is classified as Residential Class III Type - I, indicating its designation for residential purposes.