Guideline Value for Chidambaranar Street

Chidambaranar Street guideline value

The current guideline value of Chidambaranar Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village, under the jurisdiction of the Sembiam SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chidambaranar Street has changed

The guideline value for Chidambaranar Street has seen several revisions over the years. In 2002, the guideline value was Rs 257 per sq.ft. This value increased significantly to Rs 700 per sq.ft in 2007, marking a rise of 172%. The value then experienced a substantial increase to Rs 2,500 per sq.ft in 2012, which represented a 257% increase from the previous revision. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a decline of 33%. The guideline value then rose to Rs 2,500 per sq.ft in 2023, showing an increase of 49% from 2017. The most recent revision in 2024 set the value at Rs 2,700 per sq.ft, which is an 8% increase from the previous year.

It is important to note that there is no figure available for Chidambaranar Street in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 951%.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median guideline value for these streets is Rs 2,700 per sq.ft, which is equal to the current value of Chidambaranar Street.

• Chinna Kulanthai 1st Cross Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 1st Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 2nd Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 3rd Cross Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chidambaranar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, the total cost for stamp duty and registration would be Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaranar Street?

The Sub Registrar Office that covers Chidambaranar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sembiam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When engaging in a property transaction, it is essential to consider the guideline value as it directly impacts the financial obligations associated with the purchase or sale. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Chidambaranar Street?

The current guideline value of Chidambaranar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 257 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, marking an overall increase of 951%.

What is the registration office for Chidambaranar Street?

The registration office for Chidambaranar Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the stamp duty calculated for properties in Chidambaranar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.

What are the other streets in Sembiam with the same guideline value?

Other streets in Sembiam with the same guideline value of Rs 2,700 per sq.ft include Chinna Kulanthai 1st Cross Street, Chinna Kulanthai 1st Street, Chinna Kulanthai 2nd Cross Street, Chinna Kulanthai 2nd Street, Chinna Kulanthai 3rd Cross Street, and Chinna Kulanthai 3rd Street.