Guideline Value for C.B.S.NAGAR

C.B.S.Nagar guideline value

The current guideline value for C.B.S.Nagar, located in Okkiyamthuraipakkam village under the Neelankarai SRO, is Rs 2,800 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of C.B.S.Nagar has changed

The guideline value for C.B.S.Nagar has undergone several revisions over the years. Starting from the 2003 revision, the value was Rs 153 per sq.ft. This increased to Rs 500 per sq.ft in 2007, then saw a significant rise to Rs 2,500 per sq.ft in 2012. However, the value dropped to Rs 1,675 per sq.ft in 2017 before climbing to Rs 2,500 per sq.ft in 2023. The most recent revision in 2024 set the value at Rs 2,800 per sq.ft, reflecting a 12% increase from the previous year.

In summary, the changes between revisions are as follows: from 2003 to 2007, the increase was +227%; from 2007 to 2012, there was a decrease of -33%; from 2012 to 2017, the value decreased again by -33%; and from 2017 to 2023, it rose by +49%. Overall, from 2003 to 2024, the guideline value has increased by +1730%. Notably, the register has no figure for the year 2002 for this street.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 3,300 per sq.ft. C.B.S.Nagar's 2024 figure of Rs 2,800 per sq.ft is below this median.

• Central Excise Customs Colony: Rs 6,100 per sq.ft (2024)
• B.V.Avenue: Rs 2,200 per sq.ft (2024)
• Chandrasekaran Avenue: Rs 4,400 per sq.ft (2024)
• Chandrasekaran Nagar: Rs 4,400 per sq.ft (2024)
• Chandrasekaran Nagar Extension: Rs 4,400 per sq.ft (2024)
• Chandrasekar Avenue, 1, 2 Main Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in C.B.S.Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty at 7% would amount to Rs 1,96,000, and the registration fee at 2% would be Rs 56,000. Together, the total cost for these fees would be Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers C.B.S.Nagar?

C.B.S.Nagar falls under the jurisdiction of the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor during the registration process when buying or selling property in Okkiyamthuraipakkam. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to assess the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of C.B.S.Nagar?

The current guideline value of C.B.S.Nagar is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 153 per sq.ft in 2003 to Rs 2,800 per sq.ft in 2024, with various revisions in between, including a notable increase of +1730% overall.

What is the land classification for C.B.S.Nagar?

The land classification for C.B.S.Nagar is Residential Class II Type - II, indicating its designation for residential use.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is stamp duty calculated for properties in C.B.S.Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, on a property with a guideline value of Rs 28,00,000, the stamp duty would be Rs 1,96,000 at a rate of 7%.