Guideline Value for Constable Street

Constable Street guideline value

The current guideline value of Constable Street in Chinna Sembaram Bakkam village is Rs 1,600 per sq.ft, effective from 1 July 2024. This street falls under the Sembiam SRO and is classified as Residential Class I Type - I.

How the guideline value of Constable Street has changed

Over the years, the guideline value of Constable Street has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012, marking a 150% rise. However, the value then decreased to Rs 1,005 per sq.ft in the 2017 revision, a drop of 33%. The 2023 revision brought the value back up to Rs 1,500 per sq.ft, and the latest revision in 2024 has increased it further to Rs 1,600 per sq.ft, reflecting a 7% increase from the previous year.

It is important to note that there are no figures available for Constable Street in the 2002 and 2003 revisions. The overall increase from the 2007 revision to the current 2024 revision is 167%.

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. The median value among these streets is Rs 1,400 per sq.ft, placing Constable Street's 2024 figure above that median.

• Constable Road: Rs 2,200 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Constable Street?

The Sub Registrar Office covering Constable Street is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. For more information, you can find your SRO.

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 government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value will influence the costs involved, including the stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Constable Street?

The current guideline value of Constable Street is Rs 1,600 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 1,600 per sq.ft in 2024, representing an overall increase of 167%.

What are the stamp duty and registration fees for properties on Constable Street?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a property valued at Rs 16,00,000, the total fees would amount to Rs 1,44,000.

Which office manages the registration for Constable Street?

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

How does the guideline value affect property transactions?

The guideline value influences the minimum registration value of properties and determines the stamp duty and registration fees. Buyers and sellers should consider this value when planning their transactions.