Guideline Value for C.P.Chitarasu Street

C.P.Chitarasu Street guideline value

The current guideline value for C.P.Chitarasu Street in Oragadam village, under the Ambattur SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class I Type - I.

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

The guideline value for C.P.Chitarasu Street has undergone several revisions over the years. In 2002, the value was set at Rs 220 per sq.ft. This figure increased to Rs 237 per sq.ft in 2003, reflecting a change of +8%. The value saw a significant rise to Rs 600 per sq.ft in 2007, marking an increase of +153%. By 2012, the guideline value was Rs 1,800 per sq.ft, which was a decrease of -33% from the previous revision. The 2017 revision recorded a value of Rs 1,206 per sq.ft, representing a change of +49% from 2012. The most recent revision in 2023 set the value at Rs 1,800 per sq.ft, and the current value for 2024 is Rs 1,900 per sq.ft, indicating a change of +6%.

Guideline values in Oragadam

In Oragadam village, there are 596 streets under the Ambattur SRO that have a guideline value for 2024, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing C.P.Chitarasu Street's 2024 figure below that median.

• Church Street (Venkatesara Nagar): Rs 1,600 per sq.ft (2024)
• Church Street (Gandhi Nagar): Rs 1,800 per sq.ft (2024)
• Chozhan Street (Prakash Nagar): Rs 2,400 per sq.ft (2024)
• Deepa Street: Rs 1,400 per sq.ft (2024)
• Dhakshanamoorthy Street(1st Ward): Rs 1,600 per sq.ft (2024)
• Dhakshinamurthy Street (V.L.Puram): Rs 2,400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, making the total charges Rs 1,71,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers C.P.Chitarasu Street?

The Sub Registrar Office that covers C.P.Chitarasu Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Oragadam. It is used to calculate the stamp duty and registration fees that are applicable when a property is bought or sold. Buyers and sellers must be aware of the guideline value to understand the financial implications of their transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is advisable for buyers and sellers to check the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of C.P.Chitarasu Street is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 220 per sq.ft in 2002 to Rs 1,900 per sq.ft in 2024, reflecting an overall increase of +764% over the years.

What is the land classification of C.P.Chitarasu Street?

C.P.Chitarasu Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 19,00,000, the total charges would be Rs 1,71,000.

Which office handles property registrations for C.P.Chitarasu Street?

The Ambattur Sub Registrar Office handles property registrations for C.P.Chitarasu Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.