Guideline Value for Chinnaswamy Raja Street

Chinnaswamy Raja Street guideline value

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

How the guideline value of Chinnaswamy Raja Street has changed

The guideline value for Chinnaswamy Raja Street has undergone several revisions over the years. In 2002, the value was Rs 330 per sq.ft, which increased to Rs 360 per sq.ft in 2003. The value saw a significant rise to Rs 700 per sq.ft in 2007, followed by an increase to Rs 2,500 per sq.ft in 2012. However, it decreased to Rs 1,675 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,500 per sq.ft in 2023 and a further rise to Rs 2,700 per sq.ft in 2024.

Between the revisions, the changes are notable. From 2017 to 2023, there was a 49% increase, while from 2012 to 2017, the value decreased by 33%. The rise from 2007 to 2012 was a remarkable 257%, and from 2003 to 2007, it increased by 94%. Overall, from 2002 to 2024, the guideline value has increased by 718%. There are no figures available for revisions in the years not mentioned in the register.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 7,100 per sq.ft, with a median value of Rs 3,301 per sq.ft. Chinnaswamy Raja Street's 2024 guideline value is below this median.

• Chelliamman Koil 2nd Street (Bashyam Reddy Colony): Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 2nd Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Koil 1st Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 2nd Street: Rs 2,700 per sq.ft (2024)
• Chelliamman Colony 1st Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnaswamy Raja Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chinnaswamy Raja Street?

The Sub Registrar Office that covers Chinnaswamy Raja Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Peravallur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is used to calculate the fees, ensuring that the government receives its due share based on the property's assessed value. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Chinnaswamy Raja Street?

The current guideline value of Chinnaswamy Raja 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 330 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 718% over the years.

What are the stamp duty and registration fees for properties on this street?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 2,43,000, based on the guideline value of Rs 27,00,000.

Which office handles the registration for Chinnaswamy Raja Street?

The Sembiam Sub Registrar Office handles the registration for Chinnaswamy Raja Street, located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is the guideline value determined for property transactions?

The guideline value is determined by the registration department and is used as a basis for calculating stamp duty and registration fees during property transactions in Peravallur.