Guideline Value for South Street 6th Street

South Street 6th Street guideline value

The current guideline value of South Street 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of South Street 6th Street has changed

The guideline value for South Street 6th Street has undergone several revisions over the years. The earliest recorded revision was in 2007, where the guideline value was Rs 250 per sq.ft. This figure saw a significant increase to Rs 2,000 per sq.ft in 2012, marking a rise of 700%. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The next revision in 2023 set the guideline value at Rs 2,000 per sq.ft, which increased to Rs 2,200 per sq.ft in 2024, a rise of 10%.

There are no recorded figures for the revisions in 2002 and 2003 for South Street 6th Street. Overall, from 2007 to 2024, the guideline value has increased by 780%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of South Street 6th Street.

• South Street 5th Street: Rs 2,200 per sq.ft (2024)
• South Street 7th Street: Rs 2,200 per sq.ft (2024)
• South Street 4th Street: Rs 2,200 per sq.ft (2024)
• South Street 8th Street: Rs 2,200 per sq.ft (2024)
• South Street 3rd Street: Rs 2,200 per sq.ft (2024)
• South Street 2nd Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in South Street 6th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers South Street 6th Street?

The Sub Registrar Office that covers South Street 6th Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of South Street 6th Street?

The current guideline value of South Street 6th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 780% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which registration office covers South Street 6th Street?

The Selaiyur Sub Registrar Office covers South Street 6th Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for South Street 6th Street?

South Street 6th Street is classified as Residential Special Type - II, which indicates its intended use for residential purposes.