Guideline Value for 200 FEET ROAD

200 Feet Road guideline value

The current guideline value of 200 Feet Road in Chettiyaragaram village is Rs 4,400 per sq.ft, effective from 1 July 2024. This road falls under the Chennai South Joint I SRO and is classified as Commercial Special Type - III.

How the guideline value of 200 Feet Road has changed

The guideline value for 200 Feet Road has seen several revisions over the years. In 2012, the value was recorded at Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 4,000 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, reflecting a 10% increase from the previous year.

Notably, there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chettiyaragaram

In Chettiyaragaram, there are 22 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,210 to Rs 4,400 per sq.ft. The median guideline value in the village is Rs 2,200 per sq.ft, placing 200 Feet Road's current value above this median.

• Vijayalakshmi Nagar Street: Rs 2,420 per sq.ft (2024)
• Vijayalakshmi Nagar 2nd Street: Rs 2,420 per sq.ft (2024)
• Vijayalakshmi Nagar 1st Street: Rs 2,420 per sq.ft (2024)
• S.K.Nagar Main Road: Rs 2,420 per sq.ft (2024)
• S.K.Nagar: Rs 2,420 per sq.ft (2024)
• Sivarama Iyar Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in 200 Feet Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty, calculated at 7%, would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total cost of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers 200 Feet Road?

The Sub Registrar Office that covers 200 Feet Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Chettiyaragaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value helps in establishing a fair price for the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of 200 Feet Road?

The current guideline value of 200 Feet Road is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What is the median guideline value in Chettiyaragaram?

The median guideline value in Chettiyaragaram is Rs 2,200 per sq.ft, with 200 Feet Road's current value being above this median.

What fees are associated with buying property on 200 Feet Road?

When buying property on 200 Feet Road, the stamp duty is 7% of the guideline value, and the registration fee is 2%. These fees are calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for 200 Feet Road located?

The Sub Registrar Office for 200 Feet Road is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.