Guideline Value for 80 Feet Road

80 Feet Road guideline value

The current guideline value of 80 Feet Road 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 80 Feet Road has changed

The guideline value for 80 Feet Road has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was a decrease of 33% from the previous figure of Rs 2,010 per sq.ft in 2017. The value remained at Rs 3,000 per sq.ft until the 2023 revision, which increased it to Rs 3,000 per sq.ft. The most recent revision in 2024 raised the value to Rs 3,300 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, indicating that 80 Feet Road's current figure is above this median.

• 50 Feet Road: Rs 3,300 per sq.ft (2024)
• 50 Feet 4th Street: Rs 3,300 per sq.ft (2024)
• 50 Feet 3rd Street: 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 80 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, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees 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.

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

Which Sub Registrar Office covers 80 Feet Road?

The Sub Registrar Office that covers 80 Feet Road 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 details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitlapakkam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory for any property transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher amount is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of 80 Feet Road?

The current guideline value of 80 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 changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, which is a 10% increase. It was Rs 2,010 per sq.ft in 2017, showing a 49% increase from that year to 2023.

What is the classification of land on 80 Feet Road?

The land classification for 80 Feet Road is Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property on 80 Feet Road?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000 for these fees.

Which office handles registrations for properties on 80 Feet Road?

The Tambaram Joint 1 Sub Registrar Office handles registrations for properties on 80 Feet Road, located at No.26, Mes Road, East Tambaram, Chennai-600059.