Guideline Value for Chinnthambi Pillai 2nd street

Chinnthambi Pillai 2nd street guideline value

The current guideline value of Chinnthambi Pillai 2nd street is Rs 6,000 per sq.ft. 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 Chinnthambi Pillai 2nd street has changed

The guideline value for Chinnthambi Pillai 2nd street has seen several revisions over the years. The earliest recorded figure is from 2007, at Rs 600 per sq.ft. This value increased significantly to Rs 5,500 per sq.ft in 2012, marking an increase of 817%. However, from 2012 to 2017, the value decreased to Rs 3,685 per sq.ft, a decline of 33%. The value then rose to Rs 5,500 per sq.ft in 2023, a 49% increase, and is now set at Rs 6,000 per sq.ft effective from 1 July 2024, reflecting a 9% rise.

The register does not have 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. The median value for these streets is Rs 4,800 per sq.ft, placing Chinnthambi Pillai 2nd street's 2024 guideline value above this median.

• Chinnathambi Pillai 1st 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)
• Church Street: Rs 11,500 per sq.ft (2024)
• Chengalvarayan Street: Rs 4,800 per sq.ft (2024)

Stamp duty and registration fee for property in Chinnthambi Pillai 2nd 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 the total amount due Rs 5,40,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Chinnthambi Pillai 2nd street?

The Sub Registrar Office that covers Chinnthambi Pillai 2nd 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 is used to determine the stamp duty and registration fees that are applicable when buying or selling a property.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the current market conditions as per the government regulations. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Chinnthambi Pillai 2nd street?

The current guideline value of Chinnthambi Pillai 2nd 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 increased 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 are the stamp duty and registration fees for properties on this street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 5,40,000.

Which Sub Registrar Office covers this area?

The Periamet Sub Registrar Office covers Chinnthambi Pillai 2nd street, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the land classification for Chinnthambi Pillai 2nd street?

The land classification for Chinnthambi Pillai 2nd street is Residential Class II Type - I.