Guideline Value for C.I.T.NAGAR THIRD CROSS STREET

C.I.T.Nagar Third Cross Street guideline value

The current guideline value of C.I.T.Nagar Third Cross Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mambalam village and falls under the Thiyagaraya nagar SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of C.I.T.Nagar Third Cross Street has changed

The guideline value for C.I.T.Nagar Third Cross Street has seen significant changes over the years. The earliest recorded figure is from 2002, where the value was Rs 904 per sq.ft. This increased to Rs 1,500 per sq.ft in 2003, marking a rise of 66%. In 2007, the value jumped to Rs 2,000 per sq.ft, an increase of 33%. The 2012 revision brought the value up to Rs 6,000 per sq.ft, which was a substantial 200% increase from the previous figure. However, this was followed by a decrease to Rs 4,020 per sq.ft in 2017, reflecting a decline of 33%. The value then rose to Rs 6,000 per sq.ft in 2023, and the latest revision in 2024 has set the value at Rs 6,600 per sq.ft, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 630%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Mambalam

Mambalam has a total of 163 streets under the Thiyagaraya nagar SRO, with 2024 figures 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, which is equal to the current guideline value of C.I.T.Nagar Third Cross Street.

• C.I.T.Nagar Sixth Lane: Rs 6,600 per sq.ft (2024)
• C.I.T. Nagar Third Lane: Rs 7,700 per sq.ft (2024)
• C.I.T. Nagar Seventh Lane: Rs 5,500 per sq.ft (2024)
• C.I.T.Nagar Third Main Road: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar Second Main Road: Rs 15,400 per sq.ft (2024)
• C.I.T.NAGAR THIRD MAIN ROAD II nd STREET: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in C.I.T.Nagar Third Cross Street

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 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.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers C.I.T.Nagar Third Cross Street?

The Sub Registrar Office that covers C.I.T.Nagar Third Cross 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 information.

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

The guideline value is a crucial factor during property registration in Mambalam. It serves as a benchmark for determining the minimum price at which a property can be sold or purchased. When a property transaction occurs, the guideline value is used to calculate the applicable stamp duty and registration fees.

Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction. It is essential to consult the latest figures to ensure compliance with local regulations during the buying or selling process.

Frequently asked questions

What is the current guideline value of C.I.T.Nagar Third Cross Street?

The current guideline value of C.I.T.Nagar Third Cross Street 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 significantly from Rs 904 per sq.ft in 2002 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 630% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 and the registration fee would be Rs 1,32,000, totaling Rs 5,94,000.

Which Sub Registrar Office should I visit for transactions in C.I.T.Nagar Third Cross Street?

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

What is the land classification for C.I.T.Nagar Third Cross Street?

The land classification for C.I.T.Nagar Third Cross Street is Residential Class II Type - I.