Guideline Value for C.T.A. Nagar & Phase I

C.T.A. Nagar & Phase I guideline value

The current guideline value of C.T.A. Nagar & Phase I is Rs 1,980 per sq.ft, effective from 1 July 2024. This area is located in Kattupakkam village, under the jurisdiction of the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of C.T.A. Nagar & Phase I has changed

The guideline value for C.T.A. Nagar & Phase I has undergone several revisions over the years. The earliest recorded figure is from 2007, which was Rs 450 per sq.ft. This figure increased significantly to Rs 1,800 per sq.ft in 2012, marking a 300% rise. However, in 2017, the value dropped to Rs 1,206 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 1,800 per sq.ft in 2023, and finally, it is set at Rs 1,980 per sq.ft from 1 July 2024, which is a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 340%. It is important to note that there are no recorded figures for the years 2002 and 2003 for this street in the register.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that have a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft, with a median value of Rs 2,090 per sq.ft. The guideline value for C.T.A. Nagar & Phase I is below this median.

• Chokkammal Nagar: Rs 2,090 per sq.ft (2024)
• Chippai Nagar: Rs 2,090 per sq.ft (2024)
• Chinna Pattu Street: Rs 1,980 per sq.ft (2024)
• Chendurpuram Main Road: Rs 3,960 per sq.ft (2024)
• Chandra Nagar: Rs 2,090 per sq.ft (2024)
• D.R.R. Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in C.T.A. Nagar & Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers C.T.A. Nagar & Phase I?

The C.T.A. Nagar & Phase I area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Kattupakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When purchasing property, it is essential to be aware of the current guideline value to ensure compliance with registration requirements. Understanding the guideline value helps in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of C.T.A. Nagar & Phase I?

The current guideline value of C.T.A. Nagar & Phase I is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 340% over the years.

What is the median guideline value in Kattupakkam?

The median guideline value in Kattupakkam is Rs 2,090 per sq.ft for the year 2024, with C.T.A. Nagar & Phase I's value being below this median.

What are the stamp duty and registration fees for properties in C.T.A. Nagar & Phase I?

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a plot of 1,000 sq.ft, the total fees amount to Rs 1,78,200.

Which office handles registrations for C.T.A. Nagar & Phase I?

The Kunrathur Sub Registrar Office handles registrations for C.T.A. Nagar & Phase I, located at No.59, Road Street, Kundrathur, Chennai -600 069.