Guideline Value for Chidambaranar Street

Chidambaranar Street guideline value

The current guideline value of Chidambaranar Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Chidambaranar Street has changed

The guideline value of Chidambaranar Street has undergone several revisions over the years. In 2007, the value was Rs 400 per sq.ft, which increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 125%. However, it saw a decrease to Rs 603 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 900 per sq.ft in 2023, before reaching the current figure of Rs 950 per sq.ft in 2024, reflecting a 6% increase.

From the 2017 revision to the 2023 revision, the guideline value increased by 49%. Overall, from 2007 to 2024, there has been a substantial increase of 138%. It is important to note that the register has no figure for Chidambaranar Street in the years 2002 and 2003.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Chidambaranar Street's 2024 value below this median.

• Christudoss Street: Rs 950 per sq.ft (2024)
• Chritking School Street: Rs 950 per sq.ft (2024)
• Club Road: Rs 2,200 per sq.ft (2024)
• Chakkaravarthy Street: Rs 2,400 per sq.ft (2024)
• C.S.T Nagar Manimegalai Street Extn: Rs 1,300 per sq.ft (2024)
• C.S.T Santhamma Nagar: Rs 1,300 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 950 per sq.ft, the total guideline value amounts to Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, bringing the total fees together to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chidambaranar Street?

The Sub Registrar Office covering Chidambaranar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selaiyur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price to ensure compliance with local regulations.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chidambaranar Street?

The current guideline value of Chidambaranar Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, with various increases and decreases in between, including a notable increase of 138% overall from 2007 to 2024.

What is the stamp duty for properties on Chidambaranar Street?

The stamp duty for properties on Chidambaranar Street is 7% of the guideline value or sale price, whichever is higher. For example, a property valued at Rs 9,50,000 would incur a stamp duty of Rs 66,500.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value of a property. It affects the calculation of stamp duty and registration fees during property transactions.