Guideline Value for Chettshop Lane, Thiru Nagar

Chettshop Lane, Thiru Nagar guideline value

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

How the guideline value of Chettshop Lane, Thiru Nagar has changed

The guideline value for Chettshop Lane has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 1,206 per sq.ft. This increased to Rs 1,800 per sq.ft in the 2023 revision, marking a significant change of 49%. The most recent revision in 2024 saw the guideline value rise to Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no recorded figures for Chettshop Lane in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

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 guideline value in this area is Rs 2,090 per sq.ft, placing Chettshop Lane's 2024 figure below this median.

• Chettshop Lane, Nagelkeni: 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, Thiru Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,980 per sq.ft, the guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chettshop Lane, Thiru Nagar?

The Sub Registrar Office that covers Chettshop Lane, Thiru Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Pammal. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chettshop Lane, Thiru Nagar?

The current guideline value of Chettshop Lane, Thiru Nagar 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 changed significantly from Rs 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, which is an overall increase of 64%.

What is the median guideline value in Pammal?

The median guideline value in Pammal is Rs 2,090 per sq.ft, which is higher than the current value of Chettshop Lane.

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

The stamp duty rate for properties in Chettshop Lane is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Pammal Sub Registrar Office?

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