Guideline Value for Chimaya Colony

Chimaya Colony guideline value

The current guideline value of Chimaya Colony 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 has changed

The guideline value for Chimaya Colony has seen several revisions over the years. The earliest recorded figure is from the 2012 revision, which was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 2,000 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,150 per sq.ft, representing an 8% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register 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 value for these streets is Rs 2,150 per sq.ft, which is equal to the current guideline value for Chimaya Colony.

• Chimaya Colony Cross Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, while the registration fee at 2% would be Rs 43,000, bringing the total cost for these fees to 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?

The Chimaya Colony 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 details.

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

The guideline value is a crucial component in the property registration process in Rajakilpakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When buying or selling property, the guideline value influences the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher. This ensures that both buyers and sellers are aware of the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Chimaya Colony?

The current guideline value of Chimaya Colony 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 in 2012 to Rs 1,340 in 2017, then back to Rs 2,000 in 2023, and finally to Rs 2,150 in 2024.

What is the land classification of Chimaya Colony?

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

Where can I find the Selaiyur Sub Registrar Office?

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 are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a 1,000 sq.ft plot at Rs 2,150 per sq.ft would incur a total cost of Rs 1,93,500 for these fees.