Guideline Value for Chengalvarayan Street

Chengalvarayan Street guideline value

The current guideline value of Chengalvarayan Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Ayanavaram village and falls under the AnnaNagar SRO, classified as Residential Class I Type - III.

How the guideline value of Chengalvarayan Street has changed

The guideline value for Chengalvarayan Street has seen several revisions over the years. In 2002, the value was Rs 622 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2007, marking a 93% rise. The value then surged to Rs 4,500 per sq.ft in 2012, a substantial increase of 275%. However, it decreased to Rs 3,015 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 4,500 per sq.ft in 2023, and most recently, it has increased to Rs 4,900 per sq.ft in 2024, which is a 9% increase from the previous year. The register has no figure for this street in 2003.

Overall, from 2002 to 2024, the guideline value has increased by 688%. The fluctuations in the guideline value over the years indicate various changes in the property landscape of the area.

Guideline values in Ayanavaram

Ayanavaram village has a total of 369 streets under the AnnaNagar SRO, with the 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, which aligns with the current value of Chengalvarayan Street.

• Chelliamman Koil Street: Rs 4,900 per sq.ft (2024)
• Chetty Street: Rs 5,500 per sq.ft (2024)
• Chetty Street Lane: Rs 5,500 per sq.ft (2024)
• Chetty Thoppu street: Rs 4,400 per sq.ft (2024)
• Chetty Thottam: Rs 4,400 per sq.ft (2024)
• Chidambaram Mudali Street, Chennai 82: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalvarayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total fees together to Rs 4,41,000. 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 further calculations.

Which Sub Registrar Office covers Chengalvarayan Street?

The Chengalvarayan Street falls under the jurisdiction of the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When a buyer and seller agree on a sale price, the registration office will assess the guideline value to ensure that the transaction is in line with the established rates. If the sale price is lower than the guideline value, the duty will be charged based on the guideline value, which protects the interests of the government and maintains transparency in property transactions.

Frequently asked questions

What is the current guideline value of Chengalvarayan Street?

The current guideline value of Chengalvarayan Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 622 per sq.ft in 2002 to Rs 4,900 per sq.ft in 2024, reflecting an overall increase of 688% over the years.

What is the registration office for Chengalvarayan Street?

The registration office for Chengalvarayan Street is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, if the guideline value is Rs 49,00,000, the stamp duty at 7% would be Rs 3,43,000.

What are the other streets in Ayanavaram with similar guideline values?

Other streets in Ayanavaram include Chelliamman Koil Street and Chetty Street, both with a guideline value of Rs 4,900 per sq.ft in 2024, among others with varying rates.