Guideline Value for Chinna 2nd Street

Chinna 2nd Street guideline value

The current guideline value of Chinna 2nd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Zaminpallavaram village under the Pallavaram SRO, classified as Residential Class I Type - II.

How the guideline value of Chinna 2nd Street has changed

The guideline value for Chinna 2nd Street has seen several revisions over the years. In 2003, the guideline value was Rs 130 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2007, marking a 362% rise. The value then surged to Rs 3,000 per sq.ft in 2012, reflecting a remarkable 400% increase. However, it decreased to Rs 2,010 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, before reaching the current value of Rs 3,300 per sq.ft in 2024, which is a 10% increase from the previous year.

It is important to note that the register has no figure for Chinna 2nd Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 2438%.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which matches the current value for Chinna 2nd Street.

• Chinna 1st 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)
• Church Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna 2nd 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, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinna 2nd Street?

The Sub Registrar Office that covers Chinna 2nd 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 details.

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

The guideline value plays a crucial role during the registration of property transactions in Zaminpallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is considered alongside the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, which are mandatory for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Chinna 2nd Street?

The current guideline value of Chinna 2nd 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, reflecting an overall increase of 2438% over this period.

What is the land classification for Chinna 2nd Street?

Chinna 2nd Street is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.

Where can I find the Sub Registrar Office for Chinna 2nd Street?

The Sub Registrar Office for Chinna 2nd Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is stamp duty calculated for properties in Chinna 2nd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property with a guideline value of Rs 33,00,000, the stamp duty at 7% would be Rs 2,31,000.