Guideline Value for Chettshop Lane, Nagelkeni

Chettshop Lane, Nagelkeni guideline value

The current guideline value of Chettshop Lane, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village and falls under the Pammal SRO, classified as Residential Class II Type - II.

How the guideline value of Chettshop Lane, Nagelkeni has changed

Over the years, the guideline value for Chettshop Lane has seen significant changes. The most recent revision in 2024 set the value at Rs 1,980 per sq.ft, which is an increase from Rs 1,800 per sq.ft in the 2023 revision, reflecting a change of +10%. Going further back, the 2017 revision recorded a value of Rs 1,206 per sq.ft, marking a substantial increase of +49% to the 2023 figure. Overall, from 2017 to 2024, the guideline value has risen by +64%.

It is noteworthy that there are no recorded figures for Chettshop Lane in the revisions for the years 2002, 2003, 2007, and 2012.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,090 per sq.ft, indicating that Chettshop Lane's 2024 figure is below this median.

• Chettshop Lane, Thiru Nagar: Rs 1,980 per sq.ft (2024)
• Children Street, Muthamiaz Nagar: Rs 2,475 per sq.ft (2024)
• Cheran Street /VOC Nagar: Rs 2,750 per sq.ft (2024)
• Cholan Street / Muthamzahi Nagar: Rs 2,475 per sq.ft (2024)
• Cholavaram Nagar: Rs 1,980 per sq.ft (2024)
• Cholavaram Nagar,1st Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Chettshop Lane, Nagelkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total fees to Rs 1,78,200. It is important to note that the 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 Chettshop Lane, Nagelkeni?

The Sub Registrar Office that covers Chettshop Lane, Nagelkeni is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Pammal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall costs associated with property transactions, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Chettshop Lane, Nagelkeni?

The current guideline value of Chettshop Lane, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of +64%.

What is the land classification for Chettshop Lane, Nagelkeni?

Chettshop Lane is classified as Residential Class II Type - II, indicating its suitability for residential development.

What are the stamp duty rates for property in Chettshop Lane?

The stamp duty for property transactions in Chettshop Lane is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chettshop Lane, Nagelkeni located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.