Guideline Value for Chinnammal Street

Chinnammal Street guideline value

The current guideline value for Chinnammal Street is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chinnammal Street has changed

The guideline value for Chinnammal Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,600 per sq.ft, which then decreased to Rs 1,072 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 has seen a significant increase to Rs 1,700 per sq.ft, representing a rise of 59% from the 2017 figure.

There are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 6%.

Guideline values in Madambakkam

In Madambakkam, there are a total of 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value for these streets is Rs 2,400 per sq.ft, indicating that Chinnammal Street's 2024 figure is below this median.

• Chozhan Nagar: Rs 1,300 per sq.ft (2024)
• Chozhan Nagar 1st Street: Rs 1,300 per sq.ft (2024)
• Chozhan Nagar 2nd Street: Rs 1,300 per sq.ft (2024)
• Chozhan Nagar 3rd Street: Rs 1,300 per sq.ft (2024)
• Chandra Prabhu Nagar 4th Street: Rs 1,700 per sq.ft (2024)
• Chandra Prabhu Nagar 3rd Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnammal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty, charged at 7%, would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, these fees would total Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinnammal Street?

The Sub Registrar Office that covers Chinnammal Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Chinnammal Street?

The current guideline value of Chinnammal Street is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, and then increased to Rs 1,700 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Chinnammal Street?

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles registrations for Chinnammal Street?

The Selaiyur Sub Registrar Office handles registrations for Chinnammal Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai.

What is the median guideline value for streets in Madambakkam?

The median guideline value for streets in Madambakkam is Rs 2,400 per sq.ft, which is higher than the current value of Chinnammal Street.