Guideline Value for C.P. CHITTRARASU STREET

C.P. Chittrarasu Street guideline value

The current guideline value of C.P. Chittrarasu Street is Rs 3,800 per sq.ft, effective from 1 July 2024. This street is located in Arumbakkam village, under the Kodambakkam SRO, and is classified as Residential Class IV Type - III.

How the guideline value of C.P. Chittrarasu Street has changed

Over the years, the guideline value of C.P. Chittrarasu Street has seen significant changes. In the 2007 revision, the value was Rs 700 per sq.ft, which increased dramatically to Rs 3,500 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 2,345 per sq.ft in 2017, a decline of 33%. The 2023 revision saw the value rise again to Rs 3,500 per sq.ft, followed by a further increase to Rs 3,800 per sq.ft in 2024, reflecting a 9% change from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 443%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Arumbakkam

In Arumbakkam, there are 391 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 16,500 per sq.ft, with a median value of Rs 6,000 per sq.ft. C.P. Chittrarasu Street's 2024 figure is below this median.

• Collectorate Colony V Th Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony VI Th Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony Main Road: Rs 6,600 per sq.ft (2024)
• Collectorate Colony IV Th Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony I St Cross Street: Rs 6,600 per sq.ft (2024)
• Collectorate Colony II Nd Cross Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in C.P. Chittrarasu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. 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.P. Chittrarasu Street?

The Sub Registrar Office that covers C.P. Chittrarasu Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Arumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of C.P. Chittrarasu Street?

The current guideline value of C.P. Chittrarasu Street is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 700 per sq.ft to Rs 3,800 per sq.ft in 2024, reflecting a total increase of 443% over the years.

What is the land classification for C.P. Chittrarasu Street?

C.P. Chittrarasu Street is classified as Residential Class IV Type - III, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for C.P. Chittrarasu Street?

The Kodambakkam Sub Registrar Office, which covers C.P. Chittrarasu Street, is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How is the stamp duty calculated for properties in C.P. Chittrarasu Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 38,00,000 would incur a stamp duty of Rs 2,66,000 at 7%.