Guideline Value for BLUE CHIP RESIDENCY (KR)

Blue Chip Residency (Kr) guideline value

The current guideline value of Blue Chip Residency (Kr) is Rs 990 per sq.ft, effective from 1 July 2024. This property is located in Ninna Karai village, under the Chengleput Joint II SRO, and falls under the Residential Class I Type - II land classification.

How the guideline value of Blue Chip Residency (Kr) has changed

The guideline value for Blue Chip Residency (Kr) has undergone several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which was then reduced to Rs 603 per sq.ft in the 2017 revision. However, the value increased significantly to Rs 900 per sq.ft in the 2023 revision and further to Rs 990 per sq.ft in the 2024 revision, reflecting a change of +10% from 2023 to 2024 and a notable +49% from 2017 to 2023.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, the guideline value has increased by +10% from 2012 to 2024, indicating a return to a higher value after the dip in 2017.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value of Blue Chip Residency (Kr) is below this median.

• Boothapandian Street (Ward -4): Rs 1,321 per sq.ft (2024)
• Bhuvaneshwari Nagar (Per): Rs 660 per sq.ft (2024)
• B R Nagar (Sa): Rs 440 per sq.ft (2024)
• Bhuthathalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Bhuthar Nagar (Per): Rs 440 per sq.ft (2024)
• Bhavani Nagar (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Blue Chip Residency (Kr)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, while the registration fee at 2% would be Rs 19,800, making the total charges Rs 89,100. It is important to 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 Blue Chip Residency (Kr)?

The Sub Registrar Office that covers Blue Chip Residency (Kr) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Ninna Karai

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When a property is sold, the guideline value is used to assess the applicable charges, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This helps maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Blue Chip Residency (Kr)?

The current guideline value of Blue Chip Residency (Kr) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 9,90,000, the stamp duty is Rs 69,300 and the registration fee is Rs 19,800, totaling Rs 89,100. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Blue Chip Residency (Kr)?

The Chengleput Joint II Sub Registrar Office handles property registrations for Blue Chip Residency (Kr), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures transparency and sets a standard for financial obligations in buying or selling property.