Guideline Value for Cherian Nagar 2nd Street

Cherian Nagar 2nd Street guideline value

The current guideline value of Cherian Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village, under the Royapuram SRO, and falls under the Residential Class II Type - I land classification.

How the guideline value of Cherian Nagar 2nd Street has changed

Over the years, the guideline value for Cherian Nagar 2nd Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in 2012, marking a 100% rise. However, the value decreased to Rs 804 per sq.ft in 2017, reflecting a 33% drop. The next revision in 2023 raised the value to Rs 1,200 per sq.ft, followed by the current value of Rs 1,300 per sq.ft in 2024, which is an 8% increase from the previous year.

From the 2017 revision to 2023, there was a significant increase of 49%. Overall, from 2007 to 2024, the guideline value has increased by 117%. The register has no figure for the years 2002 and 2003 for this street.

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median guideline value for these streets is Rs 1,600 per sq.ft, indicating that the 2024 figure for Cherian Nagar 2nd Street is below this median.

• Cherian Nagar 2nd Cross Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 4th Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 1st Cross Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar Main Street: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Cherian Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty, charged at 7%, would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cherian Nagar 2nd Street?

The Sub Registrar Office that covers Cherian Nagar 2nd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Tondaiarpet. 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 guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Cherian Nagar 2nd Street?

The current guideline value of Cherian Nagar 2nd Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,300 per sq.ft in 2024, reflecting an overall increase of 117% over the years.

What is the median guideline value for streets in Tondaiarpet?

The median guideline value for streets in Tondaiarpet is Rs 1,600 per sq.ft, which is above the current value of Cherian Nagar 2nd Street.

What are the stamp duty and registration fees for properties in Cherian Nagar 2nd Street?

The stamp duty for properties in Cherian Nagar 2nd Street is 7%, and the registration fee is 2%. For a property valued at Rs 13,00,000, the total fees would amount to Rs 1,17,000.

Where is the Sub Registrar Office for Cherian Nagar 2nd Street located?

The Sub Registrar Office for Cherian Nagar 2nd Street is located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.