Guideline Value for Chenkazhani Amman Koil Street

Chenkazhani Amman Koil Street guideline value

The current guideline value of Chenkazhani Amman Koil Street is Rs 2,750 per sq.ft. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Chenkazhani Amman Koil Street has changed

According to the guideline value register, there are no figures available for Chenkazhani Amman Koil Street for the years 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 2,500 per sq.ft in the 2023 revision, which increased to Rs 2,750 per sq.ft in the 2024 revision, reflecting a change of +10%.

The 2024 revision is the most recent update, effective from 1 July 2024. The increase from the previous year indicates a shift in the valuation for this street, aligning it with the median value for other streets in the area.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Chenkazhani Amman Koil Street.

• Chinnammal Nagar Layout: Rs 2,750 per sq.ft (2024)
• Central Land Margeni Bank Ltd: Rs 2,200 per sq.ft (2024)
• Church Street: Rs 2,750 per sq.ft (2024)
• Church Street/Kanmalar Pon Nagar: Rs 2,750 per sq.ft (2024)
• Bus Terminus Road: Rs 3,300 per sq.ft (2024)
• C.L.M.Bank Staff Colony, Ramalinga Nagar, Sivasubramaniam Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chenkazhani Amman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, leading to a total cost of Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Chenkazhani Amman Koil Street?

The Sub Registrar Office that covers Chenkazhani Amman Koil Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a crucial role during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Chenkazhani Amman Koil Street?

The current guideline value of Chenkazhani Amman Koil Street is Rs 2,750 per sq.ft as per the 2024 revision.

How much has the guideline value changed recently?

The guideline value increased from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, marking a change of +10%.

What are the other streets in Madipakkam-1 with similar guideline values?

Other streets in Madipakkam-1 with a guideline value of Rs 2,750 per sq.ft include Chinnammal Nagar Layout, Church Street, and Church Street/Kanmalar Pon Nagar.

What is the registration fee for properties in this area?

The registration fee is 2% of the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000.

Where can I find more information about the Sub Registrar Office?

The Velacheri Sub Registrar Office covers Chenkazhani Amman Koil Street. More information can be found by visiting the relevant link to find your SRO.