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

C.I.T.Nagar Fourth Lane guideline value

The current guideline value for C.I.T.Nagar Fourth Lane is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class II Type - I.

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

The guideline value for C.I.T.Nagar Fourth Lane has seen several revisions over the years. In 2002, the guideline value was Rs 904 per sq.ft. This increased to Rs 1,500 per sq.ft in 2003, marking a 66% rise. The value further increased to Rs 2,000 per sq.ft in 2007, reflecting a 33% change. However, between 2007 and 2012, the guideline value decreased to Rs 6,000 per sq.ft, a significant drop of 200%.

In 2017, the guideline value was again revised to Rs 4,020 per sq.ft, which was a 49% increase from the previous figure. The most recent revision in 2023 set the value at Rs 6,000 per sq.ft, and the latest revision in 2024 increased it to Rs 6,600 per sq.ft, which is a 10% rise from the previous year. The overall increase from 2002 to 2024 is 630%.

Guideline values in Mambalam

Mambalam village has a total of 163 streets under the Thiyagaraya nagar SRO, with the 2024 guideline values ranging from Rs 4,400 to Rs 22,000 per sq.ft. The median value is Rs 6,600 per sq.ft, which is equal to the current guideline value for C.I.T.Nagar Fourth Lane.

• C.I.T.Nagar Fourth Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Fourth Main Road: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar First Main Road: Rs 15,400 per sq.ft (2024)
• C.I.T. Nagar Second Lane: Rs 5,500 per sq.ft (2024)
• C.I.T.Nagar First Link Road: Rs 5,500 per sq.ft (2024)
• C.I.T.Nagar Second Main Road: Rs 15,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total fees to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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

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

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

The guideline value is a crucial factor during the registration process when buying or selling property in Mambalam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations.

When registering a property, the guideline value will be used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value for C.I.T.Nagar Fourth Lane?

The current guideline value for C.I.T.Nagar Fourth Lane is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 904 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, showing an overall increase of 630% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 66,00,000. The stamp duty at 7% is Rs 4,62,000, and the registration fee at 2% is Rs 1,32,000, totaling Rs 5,94,000.

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

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

What is the land classification for C.I.T.Nagar Fourth Lane?

C.I.T.Nagar Fourth Lane is classified as Residential Class II Type - I, which reflects its suitability for residential purposes.