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

C.I.T.Nagar Sixth Lane guideline value

The current guideline value of C.I.T.Nagar Sixth 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 falls under the Residential Class II Type - I land classification.

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

The guideline value for C.I.T.Nagar Sixth Lane has seen several revisions over the years. In 2002, the guideline value was Rs 904 per sq.ft. This figure increased to Rs 1,500 per sq.ft in 2003, marking a 66% rise. By 2007, the value further increased by 33% to Rs 2,000 per sq.ft. The 2012 revision saw a significant jump to Rs 6,000 per sq.ft, reflecting a 200% increase. However, in 2017, the value decreased by 33% to Rs 4,020 per sq.ft. The guideline value then rose to Rs 6,000 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 630%. Notably, there are no figures available for the revisions in the years not listed for this street.

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 guideline value for these streets is Rs 6,600 per sq.ft, which is equal to the current value for C.I.T.Nagar Sixth Lane.

• C.I.T. Nagar Seventh Lane: Rs 5,500 per sq.ft (2024)
• C.I.T.Nagar Third Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Second Main Road: Rs 15,400 per sq.ft (2024)
• C.I.T. Nagar Third Lane: Rs 7,700 per sq.ft (2024)
• C.I.T. Nagar Second Lane: Rs 5,500 per sq.ft (2024)
• C.I.T.Nagar Third Main Road: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in C.I.T.Nagar Sixth 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 is charged at 7%, which totals Rs 4,62,000, and the registration fee is 2%, amounting to Rs 1,32,000. Together, the total cost for stamp duty and registration fee is 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.

For more information, you can use the stamp duty and registration fee calculator.

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

The Sub Registrar Office covering C.I.T.Nagar Sixth Lane 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 is a crucial factor when registering 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 duty and registration fees.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. This value is essential for calculating the costs associated with the transaction, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of C.I.T.Nagar Sixth Lane?

The current guideline value of C.I.T.Nagar Sixth 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 increased from Rs 904 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting a total increase of 630% over the years.

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

C.I.T.Nagar Sixth Lane falls under the Residential Class II Type - I land classification.

Where can I find the Sub Registrar Office for C.I.T.Nagar Sixth Lane?

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

How is stamp duty calculated for properties in C.I.T.Nagar Sixth Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.