Guideline Value for Chilapathikaram Street

Chilapathikaram Street guideline value

The current guideline value of Chilapathikaram Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Hastinapuram village, under the Pallavaram SRO, and is classified as Mixed Type - II land.

How the guideline value of Chilapathikaram Street has changed

The guideline value for Chilapathikaram Street has seen significant changes over the years. In 2007, the guideline value was Rs 525 per sq.ft. This value increased dramatically to Rs 3,500 per sq.ft in 2012, marking a rise of 567%. However, in 2017, the value decreased to Rs 2,345 per sq.ft, a drop of 33%. The value then increased to Rs 3,500 per sq.ft in 2023, and subsequently rose to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 633%.

Guideline values in Hastinapuram

In Hastinapuram, there are 277 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value in this area is Rs 2,970 per sq.ft, placing Chilapathikaram Street's 2024 value above this median.

• Chitlapakkam Main Road: Rs 4,400 per sq.ft (2024)
• Chandrika Garden: Rs 1,650 per sq.ft (2024)
• Buthar Street: Rs 1,650 per sq.ft (2024)
• Dhamodharan Nagar: Rs 2,970 per sq.ft (2024)
• Bhuvaneswari Nagar: Rs 3,300 per sq.ft (2024)
• Bashiyam Nagar 3rd Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Chilapathikaram Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be Rs 38,50,000. The stamp duty at 7% would amount to Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. 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 Chilapathikaram Street?

The Chilapathikaram Street falls under 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 Hastinapuram

The guideline value is a crucial factor during the registration of property transactions in Hastinapuram. It serves as a benchmark for calculating the stamp duty and registration fees that must be paid when a property is bought or sold.

When engaging in a property transaction, it is essential to be aware of the guideline value, as it ensures that the transaction is recorded accurately and complies with local regulations. Buyers and sellers should consult the latest guideline values to understand their financial obligations better.

Frequently asked questions

What is the current guideline value of Chilapathikaram Street?

The current guideline value of Chilapathikaram Street is Rs 3,850 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 525 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, showing an overall increase of 633% over the years.

What is the land classification for Chilapathikaram Street?

Chilapathikaram Street is classified as Mixed Type - II land, which can affect its usage and valuation in property transactions.

Where can I find the registration office for Chilapathikaram Street?

The registration office covering Chilapathikaram Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, a property valued at Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at 7%.