Guideline Value for Cheran Nagar

Cheran Nagar guideline value

The current guideline value of Cheran Nagar, located in Perumbakkam village under the Selaiyur SRO, is Rs 2,725 per sq.ft. This value is effective from 1 July 2024 and falls under the land classification of Residential Special Type - I.

How the guideline value of Cheran Nagar has changed

The guideline value for Cheran Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the following revisions, with the 2023 revision rising to Rs 2,500 per sq.ft, and then to Rs 2,725 per sq.ft in the 2024 revision, reflecting a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the 2012 and 2024 revisions, there has been a 9% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,725 per sq.ft, which is equal to the current guideline value of Cheran Nagar.

• Chettinad Villa: Rs 2,725 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 975 per sq.ft (2024)
• Citrine Sanctum By Urban Tree: Rs 4,000 per sq.ft (2024)
• Color Castle: Rs 3,950 per sq.ft (2024)
• Color Feels: Rs 2,725 per sq.ft (2024)
• Casa Vogue: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value would be Rs 27,25,000. The stamp duty at 7% would amount to Rs 1,90,750, and the registration fee at 2% would be Rs 54,500. Together, the total fees would be Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Cheran Nagar?

The Sub Registrar Office that covers Cheran Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is recorded at a fair value as per the government regulations.

Frequently asked questions

What is the current guideline value of Cheran Nagar?

The current guideline value of Cheran Nagar is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,725 per sq.ft in 2024.

What is the land classification for Cheran Nagar?

Cheran Nagar falls under the land classification of Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Cheran Nagar?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 1,90,750.