Guideline Value for Cheran Street

Cheran Street guideline value

The current guideline value of Cheran Street in Theerthangiriyampattu village is Rs 770 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Industries Type - I.

How the guideline value of Cheran Street has changed

The guideline value for Cheran Street has seen several revisions over the years. In 2007, the value was Rs 500 per sq.ft, which increased to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017. The subsequent revision in 2023 raised the value to Rs 700 per sq.ft, and the latest revision in 2024 has further increased it to Rs 770 per sq.ft. Notably, the register has no figures for the years 2002 and 2003.

From 2017 to 2023, there was a significant increase of 49%, followed by a 10% rise from 2023 to 2024. Overall, from the 2007 revision to the current 2024 figure, there has been an increase of 54% in the guideline value.

Guideline values in Theerthangiriyampattu

In Theerthangiriyampattu, there are 24 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 880 per sq.ft, with a median value of Rs 605 per sq.ft. Cheran Street's 2024 guideline value is above this median.

• Bajanai Koil Street: Rs 770 per sq.ft (2024)
• Gandhi Street: Rs 770 per sq.ft (2024)
• Gangai Amman Koil Street: Rs 330 per sq.ft (2024)
• Angamman Koil Street: Rs 440 per sq.ft (2024)
• Kamarajar Street: Rs 770 per sq.ft (2024)
• Kannappar Street: Rs 770 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 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would amount to Rs 53,900, while the registration fee at 2% would be Rs 15,400, bringing the total cost for these fees to Rs 69,300. 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 details.

Which Sub Registrar Office covers Cheran Street?

The Sub Registrar Office covering 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 Theerthangiriyampattu

The guideline value plays a crucial role during property registration in Theerthangiriyampattu. It determines the minimum value at which a property can be registered and is used to calculate applicable stamp duty and registration fees.

When buying or selling property, the guideline value ensures that transactions reflect fair value as per government regulations. Buyers and sellers must consider this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Cheran Street?

The current guideline value of Cheran Street is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 770 per sq.ft in 2024, showing an overall increase of 54% across the years.

What is the registration fee for property in Cheran Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 7,70,000, the registration fee would be Rs 15,400.

Which office handles property registrations in Theerthangiriyampattu?

The Redhills Sub Registrar Office is responsible for property registrations in Theerthangiriyampattu village.

What should I consider when buying property in Theerthangiriyampattu?

When buying property, it is essential to consider the guideline value, as it determines the minimum registration value and affects the stamp duty and registration fees you will need to pay.