Guideline Value for QUARRY STREET

Quarry Street guideline value

The current guideline value of Quarry Street in Nemilicherry village is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class III Type - I.

How the guideline value of Quarry Street has changed

The guideline value for Quarry Street has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision. Notably, there are no registered figures for Quarry Street in the years 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, indicating that Quarry Street's 2024 figure is below this median.

• Rabhin Nagar: Rs 2,160 per sq.ft (2024)
• PURUSHOTHAMAN NAGAR 1sT STREET: Rs 2,200 per sq.ft (2024)
• Raghupathy Street: Rs 2,160 per sq.ft (2024)
• P.T.C.Quarters: Rs 2,200 per sq.ft (2024)
• Postal Colony: Rs 2,420 per sq.ft (2024)
• Poonga Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Quarry Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Quarry Street?

The Quarry Street is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in determining the stamp duty and registration fees when buying or selling property in Nemilicherry. It serves as a benchmark for the valuation of properties in the area and is used by the registration department to calculate the applicable charges.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair valuation, safeguarding both the buyer and seller's interests. It is essential to be aware of the current guideline value to understand the financial implications of a property transaction.

Frequently asked questions

What is the current guideline value of Quarry Street?

The current guideline value of Quarry Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Quarry Street has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently Rs 1,100 per sq.ft from 2024.

What is the median guideline value in Nemilicherry?

The median guideline value for streets in Nemilicherry is Rs 2,160 per sq.ft, which is higher than the current value of Quarry Street.

What are the stamp duty and registration fees for property in Quarry Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Quarry Street?

The Pallavaram Sub Registrar Office handles registrations for Quarry Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.