Guideline Value for 50 Feet 3rd Street

50 Feet 3rd Street guideline value

The current guideline value of 50 Feet 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, and it falls under the Residential Class I Type - I land classification.

How the guideline value of 50 Feet 3rd Street has changed

The guideline value for 50 Feet 3rd Street has seen several revisions over the years. The earliest recorded revision was in 2012, when the value was Rs 3,000 per sq.ft. This figure remained the same until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 3,000 per sq.ft, marking a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no 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 Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, making the 2024 figure for 50 Feet 3rd Street above the median.

• 50 Feet 4th Street: Rs 3,300 per sq.ft (2024)
• 50 Feet Road: Rs 3,300 per sq.ft (2024)
• 80 Feet Road: Rs 3,300 per sq.ft (2024)
• Yamuna Street: Rs 2,750 per sq.ft (2024)
• Vu.Ve.Saminatha Street: Rs 3,850 per sq.ft (2024)
• Vu.Ve.Saminatha Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in 50 Feet 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 50 Feet 3rd Street?

The Sub Registrar Office that covers 50 Feet 3rd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when registering a property in Chitlapakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling a property, the guideline value helps ensure that the transaction is transparent and that the government receives the appropriate taxes. It is crucial for 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 50 Feet 3rd Street?

The current guideline value of 50 Feet 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification for 50 Feet 3rd Street?

50 Feet 3rd Street is classified as Residential Class I Type - I.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in 50 Feet 3rd Street?

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 33,00,000 would incur a stamp duty of Rs 2,31,000.