Guideline Value for TAMIL CHELVAN NEW STREET

Tamil Chelvan New Street guideline value

The current guideline value of Tamil Chelvan New Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Tamil Chelvan New Street has changed

The guideline value for Tamil Chelvan New Street has seen significant changes over the years. In 2002, the value was Rs 336 per sq.ft, which increased to Rs 369 per sq.ft in 2003, marking a 10% rise. By 2007, the value further rose to Rs 500 per sq.ft, reflecting a 36% increase from the previous revision. However, there are no figures available for the years 2012 and 2017.

From 2007, the guideline value surged to Rs 2,000 per sq.ft in 2023, representing a substantial 300% increase. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, which is a 10% increase from the 2023 figure. Overall, from 2002 to 2024, the guideline value has increased by 555%.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Tamil Chelvan New Street is below this median.

• Tamil Chelvan Street: Rs 2,200 per sq.ft (2024)
• Tamilnadu Slum Clearance Board Colony: Rs 2,200 per sq.ft (2024)
• Sundram Power Line: Rs 2,200 per sq.ft (2024)
• Sundarapuram All Streets: Rs 2,200 per sq.ft (2024)
• Sundarapuram: Rs 2,200 per sq.ft (2024)
• Sundara Mudali Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Tamil Chelvan New Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be 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 or the sale price.

You can calculate your stamp duty and registration fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tamil Chelvan New Street?

The Sub Registrar Office that covers Tamil Chelvan New Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Perambur. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. The guideline value is set by the government and is updated periodically, reflecting the current market conditions.

When registering a property, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Tamil Chelvan New Street?

The current guideline value of Tamil Chelvan New 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 increased from Rs 336 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 555%.

What are the stamp duty and registration fees for properties on this street?

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 Sub Registrar Office handles transactions for Tamil Chelvan New Street?

The Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012, handles transactions for Tamil Chelvan New Street.

What is the land classification for Tamil Chelvan New Street?

Tamil Chelvan New Street falls under the Residential Class IV Type - I land classification.