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Guideline Value

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Guideline Value for C.I.T. NAGAR SEVENTH LANE

₹5500/sq.ft.

The guideline value for C.i.t. Nagar Seventh Lane in Mambalam village (Thiyagaraya Nagar SRO, Chennai zone) is Rs 5500 per sq.ft, effective 1 July 2024. It was Rs 5000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iii Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Mambalam

Village

Thiyagaraya Nagar

SRO

Residential Class III Type - I
History
Period Guideline Value
From 1-7-2024 ₹5500 /sq.ft.
From 1-4-2023 ₹5000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3350 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹2000 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹1500 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹904 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

27/14,vetnari Hospital Road Panpet Nandhanam Chennai-35
044-24340958
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on C.i.t. Nagar Seventh Lane

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C.I.T. Nagar Seventh Lane guideline value

The current guideline value of C.I.T. Nagar Seventh Lane is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village under the Thiyagaraya nagar SRO, classified as Residential Class III Type - I.

How the guideline value of C.I.T. Nagar Seventh Lane has changed

The guideline value for C.I.T. Nagar Seventh Lane has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 904 per sq.ft. It increased to Rs 1,500 per sq.ft in 2003, marking a 66% rise. By 2007, the value further increased to Rs 2,000 per sq.ft, which was a 33% growth. The 2012 revision saw a decrease to Rs 5,000 per sq.ft, a drop of 150% from the previous figure. However, the value rebounded to Rs 3,350 per sq.ft in 2017, reflecting a 49% increase. The 2023 revision set the value at Rs 5,000 per sq.ft, before reaching the current figure of Rs 5,500 per sq.ft in 2024, which is a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 508%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mambalam

In Mambalam, there are a total of 163 streets under the Thiyagaraya nagar SRO, with 2024 figures ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 6,600 per sq.ft, indicating that C.I.T. Nagar Seventh Lane's current value is below this median.

Stamp duty and registration fee for property in C.I.T. Nagar Seventh Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total to Rs 4,95,000. Please note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers C.I.T. Nagar Seventh Lane?

The Sub Registrar Office that covers C.I.T. Nagar Seventh Lane is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of C.I.T. Nagar Seventh Lane?

The current guideline value of C.I.T. Nagar Seventh Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 904 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting an overall increase of 508% over this period.

What is the median guideline value in Mambalam?

The median guideline value in Mambalam is Rs 6,600 per sq.ft, which is higher than the current value of C.I.T. Nagar Seventh Lane.

What are the stamp duty and registration fees for property in C.I.T. Nagar Seventh Lane?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which Sub Registrar Office covers C.I.T. Nagar Seventh Lane?

The Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35, covers C.I.T. Nagar Seventh Lane.