Guideline Value for Chinnathambi Pillai 1st street

Chinnathambi Pillai 1st street guideline value

The current guideline value of Chinnathambi Pillai 1st street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class II Type - I.

How the guideline value of Chinnathambi Pillai 1st street has changed

The guideline value for Chinnathambi Pillai 1st street has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 600 per sq.ft. This increased significantly to Rs 5,500 per sq.ft in 2012, marking an increase of 817%. However, in 2017, the value decreased to Rs 3,685 per sq.ft, a drop of 33%. The value then rose to Rs 5,500 per sq.ft in 2023, which was a 49% increase. The most recent revision in 2024 has set the value at Rs 6,000 per sq.ft, reflecting a 9% increase from the previous year.

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 900%.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft, with a median value of Rs 4,800 per sq.ft. Chinnathambi Pillai 1st street's 2024 guideline value is above this median.

• Chinnthambi Pillai 2nd street: Rs 6,000 per sq.ft (2024)
• Choolai Bazaar Lane: Rs 7,700 per sq.ft (2024)
• Choolai Bazaar Road: Rs 8,800 per sq.ft (2024)
• Choolai High Road: Rs 9,900 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,800 per sq.ft (2024)
• Church Street: Rs 11,500 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnathambi Pillai 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value would be Rs 60,00,000. The stamp duty at 7% would amount to Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, making a total of Rs 5,40,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Chinnathambi Pillai 1st street?

The Sub Registrar Office that covers Chinnathambi Pillai 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Vepery. 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 is referenced to calculate the applicable fees. Buyers should be aware that the duty is charged on the higher of the guideline value and the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Chinnathambi Pillai 1st street?

The current guideline value of Chinnathambi Pillai 1st street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 6,000 per sq.ft in 2024, marking an overall increase of 900% over the years.

What is the land classification for Chinnathambi Pillai 1st street?

Chinnathambi Pillai 1st street is classified as Residential Class II Type - I.

Where can I find the registration office for this street?

The registration office for Chinnathambi Pillai 1st street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the stamp duty rate for properties in this area?

The stamp duty rate for properties in Chinnathambi Pillai 1st street is 7% of the guideline value or the sale price, whichever is higher.