Guideline Value for C.I.T. Road Block 35

C.I.T. Road Block 35 guideline value

The current guideline value of C.I.T. Road Block 35 is Rs 4,900 per sq.ft, effective from 1 July 2024. This property is located in Kodambakkam village, under the Ashok Nagar SRO, and falls under the Residential Class III Type - II land classification.

How the guideline value of C.I.T. Road Block 35 has changed

Over the years, the guideline value of C.I.T. Road Block 35 has seen significant changes. The 2007 revision recorded a guideline value of Rs 1,210 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017, marking a 149% increase. The value then rose to Rs 4,500 per sq.ft in 2023, reflecting a 49% increase from the previous revision. The latest revision in 2024 established the guideline value at Rs 4,900 per sq.ft, a 9% increase from 2023.

There are no figures available for the revisions in 2002, 2003, and 2012 for this street. Overall, from 2007 to 2024, the guideline value has increased by 305%.

Guideline values in Kodambakkam

Kodambakkam comprises 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value is Rs 4,900 per sq.ft, which is equal to the current guideline value of C.I.T. Road Block 35.

• C.I.T. Salai: Rs 4,900 per sq.ft (2024)
• C.K. Nagar: Rs 4,100 per sq.ft (2024)
• Church Street (Ottakapalayam): Rs 4,400 per sq.ft (2024)
• Church of South India Block 26: Rs 4,900 per sq.ft (2024)
• Chozahan Street (JPT): Rs 4,900 per sq.ft (2024)
• Choolai Pallam: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in C.I.T. Road Block 35

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, while the registration fee at 2% would be Rs 98,000, resulting in a total of Rs 4,41,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers C.I.T. Road Block 35?

The C.I.T. Road Block 35 is covered by the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the applicable duties, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of C.I.T. Road Block 35?

The current guideline value of C.I.T. Road Block 35 is Rs 4,900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,210 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, marking an overall increase of 305% over the years.

What are the stamp duty and registration fees for properties in C.I.T. Road Block 35?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 4,41,000.

Which Sub Registrar Office covers C.I.T. Road Block 35?

The Ashok Nagar Sub Registrar Office covers C.I.T. Road Block 35, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value determined for properties in Kodambakkam?

The guideline value is determined by the Registration Department and is based on various factors, including location and land classification. It serves as a benchmark for property transactions in the area.