Guideline Value for Chimaya Colony Cross Street

Chimaya Colony Cross Street guideline value

The current guideline value of Chimaya Colony Cross Street in Rajakilpakkam village is Rs 2,150 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Residential Class I Type - I.

How the guideline value of Chimaya Colony Cross Street has changed

The guideline value for Chimaya Colony Cross Street has seen several revisions over the years. In 2012, the value was Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and further rose to Rs 2,150 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value is Rs 2,150 per sq.ft, which is equal to the current value of Chimaya Colony Cross Street.

• Chimaya Colony: Rs 2,150 per sq.ft (2024)
• Chilappathigaram Street: Rs 850 per sq.ft (2024)
• Chitlapakkam Main Road: Rs 1,900 per sq.ft (2024)
• Church Street: Rs 1,600 per sq.ft (2024)
• Chelli Nagar Main Road: Rs 3,750 per sq.ft (2024)
• Chelli Nagar Kambar Street: Rs 3,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chimaya Colony Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, while the registration fee at 2% would be Rs 43,000. Together, the total cost would be Rs 1,93,500. 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 Chimaya Colony Cross Street?

The Chimaya Colony Cross Street is covered by 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 Rajakilpakkam

The guideline value plays a crucial role during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the transaction is documented at a fair value.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This value is essential for both buyers and sellers to understand their financial obligations during the property transaction process.

Frequently asked questions

What is the current guideline value of Chimaya Colony Cross Street?

The current guideline value of Chimaya Colony Cross Street is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 in 2023, and finally to Rs 2,150 in 2024. This shows a significant increase in recent years.

What is the land classification of Chimaya Colony Cross Street?

Chimaya Colony Cross Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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 stamp duty calculated for properties in Chimaya Colony Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500 at a rate of 7%.