Guideline Value for C.I.T.NAGAR EXT. THIRD MAIN ROAD IST STREET

C.I.T.Nagar Ext. Third Main Road Ist Street guideline value

The current guideline value of C.I.T.Nagar Ext. Third Main Road Ist Street is Rs 12,100 per sq.ft. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Mixed Special Type - II.

How the guideline value of C.I.T.Nagar Ext. Third Main Road Ist Street has changed

The guideline value for C.I.T.Nagar Ext. Third Main Road Ist Street has seen several revisions over the years. In 2007, the value was Rs 2,000 per sq.ft. This increased significantly to Rs 11,000 per sq.ft in 2012, marking a rise of 450%. However, from 2012 to 2017, the value decreased to Rs 7,370 per sq.ft, a drop of 33%. The value then rose to Rs 11,000 per sq.ft in 2023, reflecting a 49% increase. The latest revision in 2024 set the value at Rs 12,100 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 505%.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, placing C.I.T.Nagar Ext. Third Main Road Ist Street's 2024 figure above this median.

• C.I.T.Nagar Extension Fourth Main Road T.S.No.5 Only: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar Fifth Gross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagan Second Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Fifth Lane: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Fifth Main Road: Rs 12,100 per sq.ft (2024)
• C.I.T. Nagar First Cross Street Eastern Side Of Third Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in C.I.T.Nagar Ext. Third Main Road Ist Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,100 per sq.ft, the total guideline value would be Rs 1,21,00,000. The stamp duty at 7% would amount to Rs 8,47,000, while the registration fee at 2% would be Rs 2,42,000, bringing the total fees to Rs 10,89,000. It is important to note that the 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.I.T.Nagar Ext. Third Main Road Ist Street?

The Sub Registrar Office that covers C.I.T.Nagar Ext. Third Main Road Ist Street 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duties and registration fees.

When buying or selling property, the guideline value must be considered as it influences the overall costs involved in the transaction. Buyers should be aware that the stamp duty and registration fees are calculated based on this value, which can significantly impact the total expenditure during the property purchase.

Frequently asked questions

What is the current guideline value of C.I.T.Nagar Ext. Third Main Road Ist Street?

The current guideline value of C.I.T.Nagar Ext. Third Main Road Ist Street is Rs 12,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 2,000 per sq.ft in 2007 to Rs 12,100 per sq.ft in 2024, marking an overall increase of 505% over this period.

What is the land classification for C.I.T.Nagar Ext. Third Main Road Ist Street?

The land classification for C.I.T.Nagar Ext. Third Main Road Ist Street is Mixed Special Type - II.

Which Sub Registrar Office is responsible for this street?

The Thiyagaraya nagar Sub Registrar Office is responsible for C.I.T.Nagar Ext. Third Main Road Ist Street, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

How is the stamp duty calculated for property in this area?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,21,00,000, the stamp duty would be Rs 8,47,000.