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 Sattamangalam 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. In 2012, the value was set at Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017. Following this, the value increased significantly to Rs 900 per sq.ft in 2023, and finally, it rose to Rs 990 per sq.ft in 2024. It is important to note that the register has no figures for this street for the years 2002, 2003, and 2007.

Between the revisions, the changes were notable. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows an increase of 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Blue Chip Residency (Kr) is below this median.

• 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 660 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 amounts to Rs 9,90,000. The stamp duty, charged at 7%, would be Rs 69,300, while the registration fee at 2% would be Rs 19,800, making the total cost for these fees Rs 89,100. It is important to note that 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, 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 Sattamangalam

The guideline value is a crucial factor in the registration process when buying or selling property in Sattamangalam. It serves as the basis for calculating the stamp duty and registration fees that must be paid at the time of registration.

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 fees. 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 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 is the median guideline value in Sattamangalam?

The median guideline value in Sattamangalam is Rs 1,100 per sq.ft for the year 2024.

What are the stamp duty and registration fees for property in Blue Chip Residency (Kr)?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty is Rs 69,300, and the registration fee is Rs 19,800, totaling Rs 89,100.

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.