Guideline Value for SRI CHELLAMMAL NAGAR

Sri Chellammal Nagar guideline value

The current guideline value of Sri Chellammal Nagar is Rs 150 per sq.ft, effective from 1 July 2024. This area is located in Pusivakkam village, under the jurisdiction of the Walajabad Sub Registrar Office. The land classification for this street is Residential Special Type - I.

How the guideline value of Sri Chellammal Nagar has changed

In the 2012 revision, the guideline value was set at Rs 150 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 100 per sq.ft, marking a decline of 33%. However, the value increased significantly to Rs 150 per sq.ft in the 2023 revision, representing a 50% increase from the previous revision.

The 2024 revision has maintained the guideline value at Rs 150 per sq.ft, showing no change from the 2023 revision. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pusivakkam

In Pusivakkam, there are 22 streets under the Walajabad SRO that have a 2024 guideline value ranging from Rs 100 to Rs 598 per sq.ft, with a median value of Rs 150 per sq.ft. The guideline value of Sri Chellammal Nagar aligns with this median.

• Sri kamatchi nagar: Rs 100 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 126 per sq.ft (2024)
• Subiksham Nagar: Rs 250 per sq.ft (2024)
• Subiksham Nagar Phase-II: Rs 126 per sq.ft (2024)
• Thamizh nagar: Rs 126 per sq.ft (2024)
• Sai Thiya Nagar: Rs 126 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Chellammal Nagar

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, together totaling Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Chellammal Nagar?

The Sub Registrar Office that covers Sri Chellammal Nagar is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Pusivakkam, as it serves as the basis for calculating stamp duty and registration fees during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is considered to determine the applicable fees. If the sale price exceeds the guideline value, the duty is charged on the higher amount, ensuring that the registration process reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Sri Chellammal Nagar?

The current guideline value of Sri Chellammal Nagar is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision in 2024 maintaining it at Rs 150 per sq.ft. Notably, it decreased to Rs 100 per sq.ft in 2017 before increasing again in subsequent revisions.

What is the land classification for Sri Chellammal Nagar?

Sri Chellammal Nagar is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

Where can I find the Walajabad Sub Registrar Office?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more information about your SRO online.

How is stamp duty calculated in Sri Chellammal Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 1,50,000 would incur a stamp duty of Rs 10,500 at 7%.