Guideline Value for Cherian Nagar 4th Street

Cherian Nagar 4th Street guideline value

The current guideline value of Cherian Nagar 4th 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 4th Street has changed

The guideline value for Cherian Nagar 4th Street has undergone several revisions over the years. The earliest recorded revision is from 2007, where the value was Rs 600 per sq.ft. This increased to Rs 1,200 per sq.ft in 2012, marking a 100% increase. However, between 2012 and 2017, the value dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The value then rose significantly to Rs 1,200 per sq.ft in 2023, and the latest revision for 2024 sees it at Rs 1,300 per sq.ft, an increase of 8% from the previous year.

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

Guideline values in Tondaiarpet

In Tondaiarpet village, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 10,100 per sq.ft, with a median value of Rs 1,600 per sq.ft. Cherian Nagar 4th Street's 2024 guideline value is below this median.

• Cherian Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar Main Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Cherian Nagar 2nd Cross 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 4th 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 duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Cherian Nagar 4th Street?

The Sub Registrar Office that covers Cherian Nagar 4th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, thus ensuring that the transaction is recorded accurately and fairly.

Frequently asked questions

What is the current guideline value of Cherian Nagar 4th Street?

The current guideline value of Cherian Nagar 4th Street is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

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

What are the stamp duty rates for properties in Cherian Nagar 4th Street?

The stamp duty rate for properties in Cherian Nagar 4th Street is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the registration office for Cherian Nagar 4th Street?

The registration office for Cherian Nagar 4th Street is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

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, while Cherian Nagar 4th Street's 2024 guideline value is below this median.