Guideline Value for Chengalvarayan Street

Chengalvarayan Street guideline value

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

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 414 per sq.ft, which increased to Rs 455 per sq.ft in 2003, marking a 10% rise. The value continued to grow significantly, reaching Rs 1,000 per sq.ft in 2007, a 120% increase from the previous year. In 2012, the value was Rs 1,800 per sq.ft, reflecting an 80% increase from 2007. However, it dropped to Rs 1,206 per sq.ft in 2017, a decrease of 33% from the 2012 figure. The value then rose again to Rs 1,800 per sq.ft in 2023, before reaching the current value of Rs 1,900 per sq.ft in 2024, which is a 6% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 359%. There are no figures available for revisions in the years not mentioned in the register for this street.

Guideline values in Siruvallur

In Siruvallur village, there are 86 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 6,600 per sq.ft, with the median being Rs 1,900 per sq.ft. Chengalvarayan Street's 2024 guideline value matches this median.

• Chengalvarayan Lane: Rs 1,600 per sq.ft (2024)
• Carpenter Street: Rs 1,900 per sq.ft (2024)
• Bundhar Garden Main Street: Rs 3,900 per sq.ft (2024)
• Bundhar Garden Cross Street: Rs 3,300 per sq.ft (2024)
• Bundhar Garden 3rd Street: Rs 3,600 per sq.ft (2024)
• Bundhar Garden 2nd Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Chengalvarayan Street

For a 1,000 sq.ft plot at the current rate of Rs 1,900 per sq.ft, the guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, totaling Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chengalvarayan Street?

The Sub Registrar Office that covers Chengalvarayan Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value plays a crucial role during property transactions in Siruvallur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration of property documents. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with local regulations and helps in determining the financial obligations associated with property transactions. It is advisable to check the latest guideline values before proceeding with any property dealings.

Frequently asked questions

What is the current guideline value of Chengalvarayan Street?

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 414 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of 359% over this period.

What is the land classification of Chengalvarayan Street?

Chengalvarayan Street is classified as Residential Class III Type - I.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total fees would amount to Rs 1,71,000.