Guideline Value for Cherian Nagar 3rd Street

Cherian Nagar 3rd Street guideline value

The current guideline value of Cherian Nagar 3rd 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 it falls under the Residential Class II Type - I land classification.

How the guideline value of Cherian Nagar 3rd Street has changed

The guideline value for Cherian Nagar 3rd Street has seen several revisions over the years. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2012 revision. However, there was a decrease to Rs 804 per sq.ft in the 2017 revision. The value then rose significantly to Rs 1,200 per sq.ft in the 2023 revision, before reaching the current rate of Rs 1,300 per sq.ft in the 2024 revision. The changes from 2017 to 2023 reflect a 49% increase, while the change from 2023 to 2024 shows an 8% increase.

It is important to note that the register has no figures for Cherian Nagar 3rd Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 117%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are a total of 1,384 streets under the Royapuram SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing the 2024 guideline value of Cherian Nagar 3rd Street below this median.

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

Stamp duty and registration fee for property in Cherian Nagar 3rd 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 at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total cost for these fees 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 use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Cherian Nagar 3rd Street?

The Sub Registrar Office that covers Cherian Nagar 3rd Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more information on finding your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet, as it determines the minimum price at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for legal ownership transfer.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations and to avoid any legal issues during the registration process.

Frequently asked questions

What is the current guideline value of Cherian Nagar 3rd Street?

The current guideline value of Cherian Nagar 3rd 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 are the stamp duty and registration fees for property in Cherian Nagar 3rd Street?

For a 1,000 sq.ft plot, the total stamp duty is Rs 91,000 and the registration fee is Rs 26,000, making the total fees Rs 1,17,000 based on the current guideline value.

Which Sub Registrar Office covers Cherian Nagar 3rd Street?

The Royapuram Sub Registrar Office covers Cherian Nagar 3rd Street, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

What is the land classification for Cherian Nagar 3rd Street?

Cherian Nagar 3rd Street falls under the Residential Class II Type - I land classification, which is significant for understanding its usage regulations.