Guideline Value for Chenglamman Nagar (S.No.611/1A)

Chenglamman Nagar (S.No.611/1A) guideline value

The current guideline value for Chenglamman Nagar (S.No.611/1A) is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Sholavaram village under the Redhills SRO and is classified as Commercial Class I Type - I.

How the guideline value of Chenglamman Nagar (S.No.611/1A) has changed

Over the years, the guideline value of Chenglamman Nagar has seen significant changes. In the 2007 revision, the guideline value was Rs 600 per sq.ft. This increased to Rs 1,500 per sq.ft in 2012, marking a substantial rise of 150%. However, in the 2017 revision, it decreased to Rs 1,005 per sq.ft, which was a decline of 33%. The value then rose to Rs 1,500 per sq.ft in 2023, followed by a further increase to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2007 to 2024, the guideline value has increased by 175%.

The register does not contain figures for the years 2002 and 2003 for this street. The revisions show a clear trend of fluctuations, with the most recent value being the highest recorded for Chenglamman Nagar.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that carry 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. Chenglamman Nagar (S.No.611/1A) is positioned above this median at Rs 1,650 per sq.ft.

• Chengallamman Nagar: Rs 550 per sq.ft (2024)
• 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)

Stamp duty and registration fee for property in Chenglamman Nagar (S.No.611/1A)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling 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 our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chenglamman Nagar (S.No.611/1A)?

The Sub Registrar Office that covers Chenglamman Nagar (S.No.611/1A) 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 during the registration of property transactions in Sholavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees, which are essential for the legal transfer of property ownership. This ensures that the transaction adheres to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Chenglamman Nagar?

The current guideline value of Chenglamman Nagar (S.No.611/1A) 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 significantly from Rs 600 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, showing an overall increase of 175% over the years.

What is the land classification for Chenglamman Nagar?

Chenglamman Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Sub Registrar Office for Chenglamman Nagar located?

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

How is stamp duty calculated for properties in Chenglamman Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.