Guideline Value for Chidhambaram Street

Chidhambaram Street guideline value

The current guideline value of Chidhambaram Street, located in Nemilicherry village under the Pallavaram SRO, is Rs 2,750 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Chidhambaram Street has changed

Over the years, the guideline value of Chidhambaram Street has seen significant changes. In the 2007 revision, the value was Rs 400 per sq.ft, which increased dramatically to Rs 2,500 per sq.ft in 2012, marking a rise of 525%. However, in the 2017 revision, it decreased to Rs 1,675 per sq.ft, a drop of 33%. The value then rose again to Rs 2,500 per sq.ft in 2023, before reaching the current figure of Rs 2,750 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. From 2017 to 2023, the guideline value increased by 49%, and the overall increase from 2007 to 2024 is 588%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median guideline value in this village is Rs 2,160 per sq.ft, positioning Chidhambaram Street's 2024 figure above the median.

• Chinna 1st Street: Rs 2,160 per sq.ft (2024)
• Chinna 2nd Street: Rs 2,160 per sq.ft (2024)
• Cheran Street: Rs 2,160 per sq.ft (2024)
• Chozan Street: Rs 2,160 per sq.ft (2024)
• Chandra Street: Rs 2,160 per sq.ft (2024)
• Brahmin Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Chidhambaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chidhambaram Street?

The Sub Registrar Office that covers Chidhambaram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nemilicherry

The guideline value plays a crucial role in the registration process when buying or selling property in Nemilicherry. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration, ensuring that all transactions are recorded accurately and fairly.

When a property is sold, the guideline value acts as a benchmark for the transaction, helping to establish the minimum value for registration purposes. Buyers and sellers must consider this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Chidhambaram Street?

The current guideline value of Chidhambaram Street is Rs 2,750 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 400 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, representing an overall increase of 588% over these years.

What is the land classification of Chidhambaram Street?

Chidhambaram Street is classified as Commercial Class I Type - II, which is relevant for determining its guideline value.

What is the stamp duty rate for properties in Chidhambaram Street?

The stamp duty rate for properties in Chidhambaram Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Chidhambaram Street located?

The Sub Registrar Office for Chidhambaram Street is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.