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. It is located in Panangottur village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

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

Over the years, the guideline value of Blue Chip Residency (Kr) has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 603 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 900 per sq.ft. The most recent revision in 2024 raised the guideline value to Rs 990 per sq.ft, marking 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 Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with a 2024 guideline value range from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the guideline value of Blue Chip Residency (Kr).

• Boothapandian Street (Ward -4): Rs 1,320 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 1,320 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 would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the 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, Chengalpattu registration zone. You can find your SRO for more information.

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

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

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

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 July 1, 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 is the land classification of Blue Chip Residency (Kr)?

Blue Chip Residency (Kr) is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Blue Chip Residency (Kr)?

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

How is the stamp duty calculated for properties in Panangottur?

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 9,90,000 would incur a stamp duty of Rs 69,300 at 7%.