Guideline Value for C.K. Nagar

C.K. Nagar guideline value

The current guideline value of C.K. Nagar, located in Kodambakkam village under the Ashok Nagar SRO, is Rs 4,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of C.K. Nagar has changed

The guideline value for C.K. Nagar has seen significant changes over the years. In the 2007 revision, the value was Rs 620 per sq.ft. This figure increased dramatically to Rs 3,750 per sq.ft in the 2012 revision, marking a rise of 505%. However, in the 2017 revision, it dropped to Rs 2,512 per sq.ft, a decrease of 33%. The value rose again to Rs 3,750 per sq.ft in the 2023 revision, and currently stands at Rs 4,100 per sq.ft from the 2024 revision, reflecting a 9% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, the guideline value has increased by 561% from 2007 to 2024. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 4,900 per sq.ft. The guideline value of C.K. Nagar is below this median.

• C.I.T. Salai: Rs 4,900 per sq.ft (2024)
• C.I.T. Road Block 35: Rs 4,900 per sq.ft (2024)
• Church Street (Ottakapalayam): Rs 4,400 per sq.ft (2024)
• Church of South India Block 26: Rs 4,900 per sq.ft (2024)
• Chozahan Street (JPT): Rs 4,900 per sq.ft (2024)
• Corporation Colony Street: Rs 6,000 per sq.ft (2024)

Stamp duty and registration fee for property in C.K. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, totaling Rs 3,69,000. 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 further calculations.

Which Sub Registrar Office covers C.K. Nagar?

The Sub Registrar Office that covers C.K. Nagar is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is crucial during the registration of property transactions in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and legally.

Frequently asked questions

What is the current guideline value of C.K. Nagar?

The current guideline value of C.K. Nagar is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 620 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, representing an overall increase of 561%.

What is the land classification of C.K. Nagar?

C.K. Nagar is classified as Residential Class IV Type - I, indicating its designation for residential use.

Where can I find the Sub Registrar Office for C.K. Nagar?

The Sub Registrar Office for C.K. Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How are stamp duty and registration fees calculated in C.K. Nagar?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 3,69,000 in fees.