Guideline Value for Cheran Street (Parri Nagar)

Cheran Street (Parri Nagar) guideline value

The current guideline value of Cheran Street (Parri Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village and falls under the Ashok Nagar SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of Cheran Street (Parri Nagar) has changed

The guideline value for Cheran Street (Parri Nagar) has seen several revisions over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 313%. However, in the following 2017 revision, the value decreased to Rs 3,350 per sq.ft, which was a drop of 33%. The value then rose to Rs 5,000 per sq.ft in the 2023 revision, and most recently, it reached Rs 5,500 per sq.ft in the 2024 revision, reflecting a 10% increase.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 guideline value, there has been a substantial increase of 355%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Cheran Street (Parri Nagar) above that median.

• Cheran Street (MGR Nagar): Rs 3,300 per sq.ft (2024)
• Chetty Street: Rs 4,900 per sq.ft (2024)
• Chidambaram Street (S.V) (JPT): Rs 4,900 per sq.ft (2024)
• Chidambaranar Street: Rs 4,900 per sq.ft (2024)
• Chippaithottam 1st Street: Rs 4,100 per sq.ft (2024)
• Chippaithottam 2nd Street: Rs 4,100 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Street (Parri Nagar)

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cheran Street (Parri Nagar)?

The Sub Registrar Office that covers Cheran Street (Parri Nagar) is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Kodambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cheran Street (Parri Nagar)?

The current guideline value of Cheran Street (Parri Nagar) is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 355%.

What is the land classification for Cheran Street (Parri Nagar)?

Cheran Street (Parri Nagar) is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in this area?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers Cheran Street (Parri Nagar)?

The Ashok Nagar Sub Registrar Office covers Cheran Street (Parri Nagar), located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.