Guideline Value for Chinnamaniyakara Street

Chinnamaniyakara Street guideline value

The current guideline value of Chinnamaniyakara Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Chengalpattu Town village and falls under the Chengleput Joint I SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Chinnamaniyakara Street has changed

The guideline value of Chinnamaniyakara Street has seen several revisions over the years. In 2007, the value was Rs 501 per sq.ft, which increased significantly to Rs 3,500 per sq.ft in 2012. However, in 2017, it dropped to Rs 2,345 per sq.ft, only to rise again to Rs 3,500 per sq.ft in 2023. The latest revision in 2024 has set the value at Rs 3,850 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 668%. Notably, there are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Chengalpattu Town

In Chengalpattu Town, there are 55 streets under the Chengleput Joint I SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 3,025 per sq.ft, placing Chinnamaniyakara Street above this median.

• Councilor Devarajanar Street: Rs 4,125 per sq.ft (2024)
• Chairman Ekambaranar Street: Rs 4,125 per sq.ft (2024)
• Chairman C.N.Mahadevan Street: Rs 4,125 per sq.ft (2024)
• Devadoss Street: Rs 4,125 per sq.ft (2024)
• Dr.Varadarajan Street: Rs 4,125 per sq.ft (2024)
• Bharathiar Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnamaniyakara Street

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Please note that duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnamaniyakara Street?

The Sub Registrar Office that covers Chinnamaniyakara Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chengalpattu Town. It serves as a benchmark for determining the value of property for registration purposes. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the higher value between the guideline value and the sale price is considered for calculating these fees. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Chinnamaniyakara Street?

The current guideline value of Chinnamaniyakara Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 501 per sq.ft in 2007 to Rs 3,850 per sq.ft in 2024, an overall increase of 668% over the years.

What is the land classification of Chinnamaniyakara Street?

The land classification for Chinnamaniyakara Street is Commercial Special Type - I, indicating its use for commercial purposes.

Where can I find the Sub Registrar Office for Chinnamaniyakara Street?

The Sub Registrar Office for Chinnamaniyakara Street is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Chengalpattu Town?

Stamp duty is calculated based on the higher value between the guideline value and the sale price of the property. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.