Guideline Value for Chinna Kulanthai North Street

Chinna Kulanthai North Street guideline value

The current guideline value of Chinna Kulanthai North Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Sembiam village under the Sembiam SRO, classified as Residential Class I Type - I.

How the guideline value of Chinna Kulanthai North Street has changed

The guideline value for Chinna Kulanthai North Street has undergone several revisions over the years. The earliest recorded figure is from 2003, where it was Rs 401 per sq.ft. This value increased significantly to Rs 800 per sq.ft in 2007, marking a 100% increase. The value then rose to Rs 2,500 per sq.ft in 2012, which was a 213% increase from the previous revision. However, it saw a decrease to Rs 1,675 per sq.ft in 2017, a drop of 33%. The value increased again to Rs 2,500 per sq.ft in 2023, followed by the current figure of Rs 2,700 per sq.ft in 2024, representing an 8% increase.

Overall, from 2003 to 2024, the guideline value has increased by 573%. Notably, there is no figure available for Chinna Kulanthai North Street in the 2002 revision.

Guideline values in Sembiam

In Sembiam, there are 250 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is equal to the guideline value of Chinna Kulanthai North Street.

• Chinna Kulanthai North Main Road: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai South Main Road: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai East Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai South Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai 7th Cross Street: Rs 2,700 per sq.ft (2024)
• Chinna Kulanthai West Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chinna Kulanthai North Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinna Kulanthai North Street?

The Sub Registrar Office that covers Chinna Kulanthai North Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Sembiam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price of the property.

Frequently asked questions

What is the current guideline value of Chinna Kulanthai North Street?

The current guideline value of Chinna Kulanthai North Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 401 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 573% over the years.

What is the stamp duty rate for properties in Sembiam?

The stamp duty rate for properties in Sembiam is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

What is the land classification for Chinna Kulanthai North Street?

Chinna Kulanthai North Street is classified as Residential Class I Type - I under the Sembiam SRO.