Guideline Value for Chengavalrayan Street

Chengavalrayan Street guideline value

The current guideline value of Chengavalrayan Street is Rs 3,550 per sq.ft, effective from 1 July 2024. This street is located in Ramapuram village and falls under the Chennai South Joint II SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Chengavalrayan Street has changed

In the 2012 revision, the guideline value was Rs 3,200 per sq.ft. This figure changed to Rs 2,144 per sq.ft in the 2017 revision, reflecting a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 3,200 per sq.ft, marking a rise of 49%. The latest revision in 2024 set the value at Rs 3,550 per sq.ft, which is an increase of 11% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for Chengavalrayan Street. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that carry a 2024 guideline value ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Chengavalrayan Street's 2024 guideline value is above this median.

• Chellammal Nagar/Main Road/ 1st & 2nd Cross Street: Rs 3,100 per sq.ft (2024)
• Chidambaram Nagar: Rs 3,100 per sq.ft (2024)
• Chellammal Nagar 2nd Street: Rs 3,100 per sq.ft (2024)
• Chellammal Nagar 1st Street: Rs 3,100 per sq.ft (2024)
• Chellammal Link Road: Rs 3,100 per sq.ft (2024)
• Chidambaram Nagar 2nd Street: Rs 3,100 per sq.ft (2024)

Stamp duty and registration fee for property in Chengavalrayan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,550 per sq.ft, the total guideline value amounts to Rs 35,50,000. The stamp duty at 7% would be Rs 2,48,500, and the registration fee at 2% would be Rs 71,000, bringing the total charges to Rs 3,19,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chengavalrayan Street?

The Chengavalrayan Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Ramapuram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value is considered to ensure that the transaction is recorded accurately. It helps in maintaining transparency in property dealings and ensures that the appropriate charges are levied based on the established rates.

Frequently asked questions

What is the current guideline value of Chengavalrayan Street?

The current guideline value of Chengavalrayan Street is Rs 3,550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, including a decrease to Rs 2,144 per sq.ft in 2017, followed by an increase to Rs 3,200 per sq.ft in 2023, and then to Rs 3,550 per sq.ft in 2024.

What is the land classification of Chengavalrayan Street?

The land classification for Chengavalrayan Street is Residential Class I Type - II, indicating its suitability for residential development.

Which office handles property registrations for Chengavalrayan Street?

The property registrations for Chengavalrayan Street are handled by the Chennai South Joint II Sub Registrar Office, located in Fanepet Nandanam, Chennai.

How is the stamp duty calculated for properties in Chengavalrayan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 35,50,000, the stamp duty would be Rs 2,48,500 at 7%.