Guideline Value for Constable Road

Constable Road guideline value

The current guideline value of Constable Road in Chinna Sembaram Bakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Sembiam SRO and is classified as Commercial Class I Type - II.

How the guideline value of Constable Road has changed

The guideline value for Constable Road has seen several revisions over the years. Starting from the 2003 revision, the value was Rs 281 per sq.ft. This increased significantly to Rs 700 per sq.ft in 2007, marking a rise of 149%. The value then jumped to Rs 2,000 per sq.ft in 2012, which was a substantial increase of 186%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The 2023 revision set the value at Rs 2,000 per sq.ft, followed by a 10% increase to Rs 2,200 per sq.ft in the 2024 revision.

Overall, from 2003 to 2024, the guideline value has increased by 683%. It is important to note that the register does not have a figure for the year 2002 for this street.

Guideline values in Chinna Sembaram Bakkam

In Chinna Sembaram Bakkam, there are 37 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 2,700 per sq.ft, with a median of Rs 1,400 per sq.ft. The guideline value for Constable Road is above this median.

• Constable Street: Rs 1,600 per sq.ft (2024)
• Bhuoshanam Street: Rs 1,100 per sq.ft (2024)
• Duraisamy Street: Rs 1,100 per sq.ft (2024)
• Bharathamada Street: Rs 1,100 per sq.ft (2024)
• Artisan Shanmugam Road (Shanmunga Mudaliar Street): Rs 1,400 per sq.ft (2024)
• Appadurai Naiken Main Road: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Constable Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Constable Road?

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

How the guideline value is used when you buy or sell in Chinna Sembaram Bakkam

The guideline value is a crucial factor during the registration of property transactions in Chinna Sembaram Bakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the transaction process. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property dealings.

Frequently asked questions

What is the current guideline value for Constable Road?

The current guideline value for Constable Road is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 281 per sq.ft in 2003 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 683% over this period.

What is the land classification for Constable Road?

Constable Road is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.

Where can I find the Sub Registrar Office for Constable Road?

The Sub Registrar Office for Constable Road is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011.