Guideline Value for HIGHLIGHT

Highlight guideline value

The current guideline value for Highlight, Chembarambakkam village, under the Poonamallee SRO is Rs 3,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Highlight has changed

The guideline value for Highlight has undergone several revisions over the years. However, the register has no figures for the years 2002, 2003, 2007, 2012, 2017, and 2023 for this street. The most recent revision in 2024 set the guideline value at Rs 3,400 per sq.ft.

Prior to the 2024 revision, there were no recorded figures in the register for Highlight. Therefore, it is important to note that the current value is the first documented figure for this street.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft, with a median value of Rs 1,100 per sq.ft. Highlight's 2024 figure of Rs 3,400 per sq.ft is above this median.

• Industrial: Rs 1,950 per sq.ft (2024)
• Jawahar Street: Rs 878 per sq.ft (2024)
• Jawahar Street 97/4c, 4i, 4j, 5,6,7,8,910: Rs 878 per sq.ft (2024)
• Gandhi Street Athukkal Therukenar Varai: Rs 878 per sq.ft (2024)
• Gandhi Street Aathukal Street Till Well 97/4c, 4i,4j,5,6.7.8.9.10: Rs 878 per sq.ft (2024)
• Eternity Phase II: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Highlight

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value amounts to Rs 34,00,000. The stamp duty at 7% would be Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, making the total charges Rs 3,06,000. 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 Highlight?

The Sub Registrar Office that covers Highlight is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Chembarambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, which are calculated based on this value.

When a property is sold, the buyer and seller must ensure that the sale price is not lower than the guideline value to avoid any legal issues. The registration office will assess the property based on the guideline value to determine the applicable fees.

Frequently asked questions

What is the current guideline value of Highlight?

The current guideline value of Highlight, Chembarambakkam village, under the Poonamallee SRO is Rs 3,400 per sq.ft, effective from 1 July 2024.

What land classification does Highlight fall under?

Highlight is classified as Residential Class IV Type - I according to the guideline value register.

Have there been any changes in the guideline value for Highlight?

There have been no recorded figures for Highlight in the years 2002, 2003, 2007, 2012, 2017, and 2023. The first documented figure is the current guideline value of Rs 3,400 per sq.ft from the 2024 revision.

What are the guideline values of other streets in Chembarambakkam?

Other streets in Chembarambakkam have varying guideline values. For instance, Industrial is Rs 1,950 per sq.ft, while several streets including Jawahar Street and Gandhi Street are at Rs 878 per sq.ft.

How is stamp duty calculated for properties in Highlight?

Stamp duty for properties in Highlight is calculated based on the higher of the guideline value or the sale price. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 2,38,000 at 7% of the guideline value.