Guideline Value for 50 Feet 4th Street

50 Feet 4th Street guideline value

The current guideline value of 50 Feet 4th Street in Chitlapakkam village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of 50 Feet 4th Street has changed

Over the years, the guideline value of 50 Feet 4th Street has seen several revisions. The oldest available revision is from 2012, where the value was Rs 3,000 per sq.ft. This figure remained unchanged until the next revision in 2017, which saw a decrease to Rs 2,010 per sq.ft. Following this, the value increased significantly to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 in the village is Rs 1,650 per sq.ft, placing 50 Feet 4th Street's 2024 figure above this median.

• 50 Feet 3rd 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 4th Street

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

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers 50 Feet 4th Street?

The Sub Registrar Office that covers 50 Feet 4th 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 plays an essential role during the registration process of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is crucial to be aware of the guideline value, as it affects the financial obligations involved in the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal issues during registration.

Frequently asked questions

What is the current guideline value of 50 Feet 4th Street?

The current guideline value of 50 Feet 4th 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 seen several changes, from Rs 3,000 in 2012 to Rs 2,010 in 2017, then back to Rs 3,000 in 2023, and finally to Rs 3,300 in 2024.

What is the land classification of 50 Feet 4th Street?

50 Feet 4th Street is classified as Residential Class I Type - I.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 33,00,000, with a stamp duty of Rs 2,31,000 and a registration fee of Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for 50 Feet 4th Street located?

The Sub Registrar Office for 50 Feet 4th Street is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.