Guideline Value for Industrial

Industrial guideline value

The current guideline value for Industrial in Chembarambakkam village, under the Poonamallee SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. This classification falls under Industries Type - I.

How the guideline value of Industrial has changed

Over the years, the guideline value for Industrial in Chembarambakkam has seen significant changes. The 2012 revision set the value at Rs 1,250 per sq.ft, which then decreased by 33% to Rs 837 per sq.ft in 2017. Following this, the value surged by 115% to reach Rs 1,800 per sq.ft in the 2023 revision. Most recently, the 2024 revision has increased the value by 8% to Rs 1,950 per sq.ft.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 56%.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO, with guideline values ranging from Rs 550 to Rs 4,000 per sq.ft. The guideline value for Industrial at Rs 1,950 per sq.ft is above the median value of Rs 1,100 per sq.ft for the area.

• Highlight: Rs 3,400 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 Industrial

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would amount to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total to Rs 1,75,500. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Industrial?

The Industrial area in Chembarambakkam is covered by the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee, 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 is a crucial factor during the registration of property transactions in Chembarambakkam. It serves as a benchmark for calculating the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value for Industrial in Chembarambakkam?

The current guideline value for Industrial in Chembarambakkam is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,250 per sq.ft in 2012 to Rs 837 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,950 per sq.ft in 2024.

What are the other guideline values in Chembarambakkam?

In Chembarambakkam, the guideline values for other streets range from Rs 550 to Rs 4,000 per sq.ft, with the median being Rs 1,100 per sq.ft.

What are the stamp duty and registration fees based on the guideline value?

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 19,50,000, the total stamp duty and registration fee would amount to Rs 1,75,500.

Where can I find the Sub Registrar Office for Chembarambakkam?

The Sub Registrar Office covering Chembarambakkam is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee, Chennai - 600056.