Guideline Value for C.I.T. Salai

C.I.T. Salai guideline value

The current guideline value of C.I.T. Salai is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO and is classified as Residential Class III Type - II.

How the guideline value of C.I.T. Salai has changed

The guideline value of C.I.T. Salai has seen significant changes over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased to Rs 3,015 per sq.ft in 2017. Following this, the value rose to Rs 4,500 per sq.ft in 2023, and is now set at Rs 4,900 per sq.ft in the 2024 revision, marking a 9% increase from the previous year. The register has no figures for the years 2002, 2003, and 2012.

Overall, from the 2007 revision to the current 2024 figure, there has been a remarkable increase of 305%. The changes between revisions are notable, with a 149% rise from 2007 to 2017 and a 49% increase from 2017 to 2023.

Guideline values in Kodambakkam

Kodambakkam village has a total of 1,031 streets under the Ashok Nagar SRO, with 2024 guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value is Rs 4,900 per sq.ft, which is the same as the current guideline value of C.I.T. Salai.

• C.I.T. Road Block 35: 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. Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 4,900 per sq.ft, the total guideline value is Rs 49,00,000. The stamp duty at 7% would be Rs 3,43,000, and the registration fee at 2% would be Rs 98,000, bringing the total to Rs 4,41,000. Please note that 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 details.

Which Sub Registrar Office covers C.I.T. Salai?

The Sub Registrar Office that covers C.I.T. Salai is 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 an important factor when buying or selling property in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers must ensure that the sale price is at least equal to or greater than the guideline value to avoid any legal issues.

When registering a property, the guideline value is used to calculate the applicable fees, ensuring that the government receives its due revenue from property transactions. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of C.I.T. Salai?

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

How has the guideline value changed over the years?

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

What is the registration office for C.I.T. Salai?

The registration office for C.I.T. Salai is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What are the stamp duty rates for property in C.I.T. Salai?

The stamp duty rate for property in C.I.T. Salai is 7% of the guideline value or sale price, whichever is higher.

What should I do if I want to buy property in Kodambakkam?

If you want to buy property in Kodambakkam, it is important to check the current guideline value, understand the applicable stamp duty and registration fees, and ensure that all legal processes are followed during the transaction.