Guideline Value for Chinna 1st Street

Chinna 1st Street guideline value

The current guideline value of Chinna 1st Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Chinna 1st Street has changed

The guideline value for Chinna 1st Street has undergone several revisions over the years. The earliest recorded figure is from 2003, which was Rs 130 per sq.ft. This increased significantly to Rs 600 per sq.ft in 2007, marking a 362% rise. The value then jumped to Rs 3,000 per sq.ft in 2012, reflecting a 400% increase. However, it saw a decrease to Rs 2,010 per sq.ft in 2017, which is a drop of 33%. The value rebounded to Rs 3,000 per sq.ft in 2023 and further increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

It is important to note that there is no recorded figure for Chinna 1st Street in the 2002 revision. Overall, from 2003 to 2024, the guideline value has increased by 2438%.

Guideline values in Zaminpallavaram

In Zaminpallavaram, there are 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Chinna 1st Street.

• Chinna 2nd Street: Rs 3,300 per sq.ft (2024)
• Chetti Street: Rs 2,160 per sq.ft (2024)
• Chitra Township: Rs 3,850 per sq.ft (2024)
• Christhu Nagar: Rs 2,750 per sq.ft (2024)
• Chembers Colony Main Road: Rs 3,850 per sq.ft (2024)
• Chembers Colony 9th Cross St.: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for stamp duty and registration would be Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinna 1st Street?

The Sub Registrar Office that covers Chinna 1st Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which a property can be registered. When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

Buyers and sellers must be aware that the guideline value can change with revisions, impacting the overall cost of property transactions. It is advisable to check the latest guideline values before engaging in any property dealings to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Chinna 1st Street?

The current guideline value of Chinna 1st Street is Rs 3,300 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 130 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 2438% over this period.

What are the registration fees for property transactions in Chinna 1st Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Which office handles property registrations for Chinna 1st Street?

The Pallavaram Sub Registrar Office handles property registrations for Chinna 1st Street, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

Where can I find more information about stamp duty and registration fees?

You can find more information about stamp duty and registration fees using the stamp duty and registration fee calculator.