Guideline Value for Chinnamalai

Chinnamalai guideline value

The current guideline value for Chinnamalai, located in Venkatapuram village under the Adayar SRO, is Rs 8,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Chinnamalai has changed

The guideline value for Chinnamalai has seen several revisions over the years. In 2007, the guideline value was set at Rs 2,250 per sq.ft. This increased significantly to Rs 7,500 per sq.ft in 2012, representing a 233% increase. However, in 2017, the value decreased to Rs 5,025 per sq.ft, marking a decline of 33%. The value then rose again to Rs 7,500 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 8,300 per sq.ft, which is an 11% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 269%.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft, with a median value of Rs 5,500 per sq.ft. Chinnamalai's 2024 guideline value of Rs 8,300 per sq.ft is above this median.

• Church Colony: Rs 4,400 per sq.ft (2024)
• Central Avenue Road: Rs 5,500 per sq.ft (2024)
• Central Avenue: Rs 5,500 per sq.ft (2024)
• Bishop Colony: Rs 8,300 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Arokkiyamada Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnamalai

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, while the registration fee at 2% would be Rs 1,66,000. Together, the total cost for these fees would be Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnamalai?

The Sub Registrar Office that covers Chinnamalai is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process. Buyers should be aware that the guideline value can influence the overall cost of property transactions.

When registering a property, the guideline value is used to calculate the applicable fees. It is essential for both buyers and sellers to understand this value, as it impacts the financial aspects of the transaction, including the taxes owed at the time of registration.

Frequently asked questions

What is the current guideline value of Chinnamalai?

The current guideline value of Chinnamalai is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,250 per sq.ft in 2007 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of 269% over the years.

What is the land classification for Chinnamalai?

Chinnamalai is classified as Residential Class I Type - I.

Where is the Adayar Sub Registrar Office located?

The Adayar Sub Registrar Office is located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in Chinnamalai?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 at a rate of 7%.