Guideline Value for Cheran Street

Cheran Street guideline value

The current guideline value of Cheran Street in Naravarikuppam village is Rs 1,320 per sq.ft, effective from 1 July 2024. This street falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Cheran Street has changed

The guideline value for Cheran Street has undergone several revisions over the years. In 2002, the guideline value was Rs 2,905 per sq.ft, which decreased to Rs 296 per sq.ft in 2003. Following that, the value increased to Rs 400 per sq.ft in 2007, and then saw a significant rise to Rs 1,200 per sq.ft in 2012. However, it dropped to Rs 804 per sq.ft in 2017, before rising again to Rs 1,200 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 1,320 per sq.ft, marking a 10% increase from the previous year.

Between the revisions, the changes were as follows: from 2017 to 2023, there was a 49% increase; from 2012 to 2017, a decrease of 33%; from 2007 to 2012, an increase of 200%; from 2003 to 2007, an increase of 35%; and from 2002 to 2003, a decrease of 90%. Overall, from 2002 to 2024, the guideline value has decreased by 55%.

Guideline values in Naravarikuppam

In Naravarikuppam, there are 112 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Cheran Street's 2024 figure below that median.

• Chothupakkam Road: Rs 3,300 per sq.ft (2024)
• Chothupakkam Salai: Rs 2,200 per sq.ft (2024)
• Chozhan Street: Rs 1,320 per sq.ft (2024)
• Church Street: Rs 1,870 per sq.ft (2024)
• By-Pass Road: Rs 3,300 per sq.ft (2024)
• C.K. Manikkam Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Cheran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total fees together to Rs 1,18,800. It is important to note that the 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 detailed calculations.

Which Sub Registrar Office covers Cheran Street?

The Sub Registrar Office that covers Cheran Street 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 Naravarikuppam

The guideline value plays a crucial role during the registration of property transactions in Naravarikuppam. It is the basis for calculating stamp duty and registration fees, which are mandatory costs associated with property transactions.

When buying or selling property, the guideline value ensures that the transaction is recorded at a standard value set by the government. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Cheran Street?

The current guideline value of Cheran Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value of Cheran Street changed over the years?

The guideline value has changed significantly from Rs 2,905 per sq.ft in 2002 to Rs 1,320 per sq.ft in 2024, with various increases and decreases in between.

What is the registration office for Cheran Street?

The registration office for Cheran Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What are the stamp duty and registration fees for a property in Cheran Street?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,18,800.

Where can I find more information about the guideline values in Naravarikuppam?

You can find more information about the guideline values in Naravarikuppam by checking the official guidelines provided by the Registration Department.