Guideline Value for TAMIL CHELVAN STREET

Tamil Chelvan Street guideline value

The current guideline value of Tamil Chelvan 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 falls under the Residential Class IV Type - I land classification.

How the guideline value of Tamil Chelvan Street has changed

The guideline value for Tamil Chelvan Street has seen several revisions over the years. Starting from Rs 336 per sq.ft in 2002, it increased to Rs 369 per sq.ft in 2003, marking a 10% increase. By 2007, the value rose significantly 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.

In the subsequent revisions, the guideline value reached Rs 2,000 per sq.ft in 2023, which is a substantial increase of 300% from the 2007 figure. The latest revision in 2024 has set the value at Rs 2,200 per sq.ft, indicating a 10% increase from the previous year. 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. Tamil Chelvan Street's 2024 guideline value is below this median.

• Tamil Chelvan New 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 Street

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the 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 fees 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. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tamil Chelvan Street?

The Sub Registrar Office that covers Tamil Chelvan 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 in property transactions in Perambur. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This ensures that the transaction is recorded accurately in the official register.

When selling property, the guideline value can also influence the sale price, as it provides a benchmark for both buyers and sellers. It is essential for both parties to be aware of the current guideline value to facilitate a smooth transaction.

Frequently asked questions

What is the current guideline value of Tamil Chelvan Street?

The current guideline value of Tamil Chelvan 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, reflecting an overall increase of 555% over the years.

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

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 1,98,000.

Which Sub Registrar Office covers Tamil Chelvan Street?

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

What is the land classification for Tamil Chelvan Street?

Tamil Chelvan Street is classified as Residential Class IV Type - I according to the guideline value register.