Guideline Value for 50 Feet Road

50 Feet Road guideline value

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

How the guideline value of 50 Feet Road has changed

The guideline value of 50 Feet Road has seen several revisions over the years. In 2012, the value was Rs 3,000 per sq.ft, which decreased to Rs 2,010 per sq.ft in 2017. However, it rose significantly to Rs 3,000 per sq.ft in the 2023 revision, and further increased by 10% to reach the current value of Rs 3,300 per sq.ft in 2024. Notably, the register has no figures for this street in the years 2002, 2003, and 2007.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has risen 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 value is Rs 1,650 per sq.ft, making the 2024 figure of Rs 3,300 per sq.ft for 50 Feet Road above this median.

• 50 Feet 4th Street: Rs 3,300 per sq.ft (2024)
• 50 Feet 3rd Street: 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 Road

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, while the registration fee at 2% would be Rs 66,000, bringing the total charges 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 details.

Which Sub Registrar Office covers 50 Feet Road?

The 50 Feet Road is covered by 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 a crucial role in property transactions in Chitlapakkam. It serves as a base reference for calculating stamp duty and registration fees, ensuring that these charges are aligned with the prevailing market conditions. Buyers and sellers must consider the guideline value to understand the financial implications of their transactions.

During the registration process, the guideline value is used to determine the official value of the property being bought or sold. This value is essential for legal documentation and helps in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of 50 Feet Road?

The current guideline value of 50 Feet Road 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 revisions, with the most recent being Rs 3,300 per sq.ft in 2024, up from Rs 3,000 per sq.ft in 2023. The value was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012.

What is the land classification of 50 Feet Road?

50 Feet Road is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties on 50 Feet Road?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 33,00,000, the total charges would be Rs 2,97,000.

Where is the Sub Registrar Office for 50 Feet Road located?

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