Guideline Value for CART TRACK STREET

Cart Track Street guideline value

The current guideline value of Cart Track Street is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Tnagar village, under the Thiyagaraya nagar SRO, with a land classification of Residential Class II Type - I.

How the guideline value of Cart Track Street has changed

The guideline value for Cart Track Street has seen several revisions over the years. In 2002, the value was Rs 1,335 per sq.ft, which increased to Rs 1,482 per sq.ft in 2003, marking a change of +11%. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, an increase of +35%. However, from 2007 to 2012, the value surged to Rs 7,500 per sq.ft, a remarkable increase of +275%. In 2017, the value dropped to Rs 5,025 per sq.ft, reflecting a decrease of -33%. The 2023 revision set the value at Rs 7,500 per sq.ft, before the latest increase to Rs 8,300 per sq.ft in 2024, which is an increase of +11%.

Overall, from 2002 to 2024, the guideline value has increased by +522%. There are no figures available for the years not mentioned in the register for this street.

Guideline values in Tnagar

In Tnagar village, there are 262 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value, ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, positioning Cart Track Street's 2024 figure below this median.

• Canal Bank Road: Rs 8,800 per sq.ft (2024)
• Burkit Road: Rs 17,600 per sq.ft (2024)
• Chari Street: Rs 9,900 per sq.ft (2024)
• Boag Road: Rs 17,600 per sq.ft (2024)
• B.N.REDDY ROAD 3rd STREET: Rs 9,400 per sq.ft (2024)
• B.N.REDDY ROAD 3rd LANE: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Cart Track Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cart Track Street?

The Sub Registrar Office that covers Cart Track 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 Tnagar

The guideline value plays a crucial role in the registration process when buying or selling property in Tnagar. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the registration office uses the guideline value to calculate the applicable fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Cart Track Street?

The current guideline value of Cart Track Street is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,335 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of +522% over the years.

What is the land classification for Cart Track Street?

Cart Track Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for a property in Cart Track Street?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Where is the Sub Registrar Office for Cart Track Street located?

The Sub Registrar Office for Cart Track Street is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.