Guideline Value for C.I.T.NAGAR FIRST MAIN ROAD

C.I.T.Nagar First Main Road guideline value

The current guideline value of C.I.T.Nagar First Main Road is Rs 15,400 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Commercial Special Type - II.

How the guideline value of C.I.T.Nagar First Main Road has changed

The guideline value for C.I.T.Nagar First Main Road has seen significant changes over the years. In 2003, the guideline value was Rs 1,500 per sq.ft, which increased to Rs 6,500 per sq.ft in 2007, marking a substantial rise of 333%. The value then increased to Rs 14,000 per sq.ft in 2012, a 115% increase from the previous revision. However, it decreased to Rs 9,380 per sq.ft in 2017, reflecting a decline of 33%. By 2023, the guideline value rose again to Rs 14,000 per sq.ft, and as of the latest revision in 2024, it stands at Rs 15,400 per sq.ft, showing a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 927%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Mambalam

The guideline values for 163 streets in Mambalam under the Thiyagaraya nagar SRO range from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. C.I.T.Nagar First Main Road's 2024 guideline value is above this median.

• C.I.T.Nagar First Link Road: Rs 5,500 per sq.ft (2024)
• C.I.T.Nagar Fourth Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar First Lane: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Fourth Lane: Rs 6,600 per sq.ft (2024)
• C.I.T. Nagar First Cross Street Eastern Side Of Third Main Road: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Fourth Main Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in C.I.T.Nagar First Main Road

For a 1,000 sq.ft plot at the current rate of Rs 15,400 per sq.ft, the guideline value amounts to Rs 1,54,00,000. The stamp duty at 7% would be Rs 10,78,000, and the registration fee at 2% would be Rs 3,08,000, totaling Rs 13,86,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers C.I.T.Nagar First Main Road?

The Sub Registrar Office that covers C.I.T.Nagar First Main Road 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 in the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When you register a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of C.I.T.Nagar First Main Road?

The current guideline value of C.I.T.Nagar First Main Road is Rs 15,400 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,500 per sq.ft in 2003 to Rs 15,400 per sq.ft in 2024, which is a total increase of 927% over the period.

What are the stamp duty and registration fees for property in C.I.T.Nagar First Main Road?

For a property valued at Rs 1,54,00,000, the stamp duty would be Rs 10,78,000, and the registration fee would be Rs 3,08,000, totaling Rs 13,86,000.

Which office handles the registration for C.I.T.Nagar First Main Road?

The registration for C.I.T.Nagar First Main Road is handled by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for C.I.T.Nagar First Main Road?

The land classification for C.I.T.Nagar First Main Road is Commercial Special Type - II.