Guideline Value for CARTMAN ROAD

Cartman Road guideline value

The current guideline value of Cartman Road is Rs 5,500 per sq.ft, effective from 1 July 2024. This road is located in Mambalam village, under the Thiyagaraya nagar SRO, and is classified as Residential Class III Type - I.

How the guideline value of Cartman Road has changed

Since the 2002 revision, the guideline value for Cartman Road has seen significant changes. In 2002, the value was Rs 505 per sq.ft, which increased to Rs 561 per sq.ft in 2003. Following this, the value rose sharply to Rs 2,000 per sq.ft in 2007, marking a 257% increase from the previous figure. The 2012 revision set the guideline value at Rs 5,000 per sq.ft, a decrease of 33% from 2007. In 2017, it increased to Rs 3,350 per sq.ft, and by 2023, it further rose to Rs 5,000 per sq.ft. The latest revision in 2024 has established the current value at Rs 5,500 per sq.ft, reflecting a 10% increase from 2023.

Overall, from 2002 to 2024, the guideline value has increased by 989%. There are no revisions with figures missing for this street.

Guideline values in Mambalam

In Mambalam, there are 163 streets under the Thiyagaraya nagar SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 22,000 per sq.ft, with a median value of Rs 6,600 per sq.ft. The guideline value of Cartman Road is below this median.

• Canal Bank Road C.I.T.Nagar: Rs 12,100 per sq.ft (2024)
• Chinniah 2nd Street: Rs 8,800 per sq.ft (2024)
• Chinniah Ist Street Northern Side Of East Jones Road: Rs 8,800 per sq.ft (2024)
• C.I.T.Nagan Second Cross Street: Rs 6,600 per sq.ft (2024)
• C.I.T.Nagar Extension Fourth Main Road T.S.No.5 Only: Rs 12,100 per sq.ft (2024)
• C.I.T.Nagar Ext. Third Main Road Ist Street: Rs 12,100 per sq.ft (2024)

Stamp duty and registration fee for property in Cartman Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost for these fees to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Cartman Road?

The Sub Registrar Office that covers Cartman Road 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 details.

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

The guideline value plays a crucial role in the registration process of property transactions in Mambalam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of property transactions. This value is updated periodically, reflecting changes in the real estate market and local regulations.

Frequently asked questions

What is the current guideline value of Cartman Road?

The current guideline value of Cartman Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 505 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, indicating an overall increase of 989% over this period.

What are the stamp duty and registration fees for property on Cartman Road?

For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Cartman Road?

The Thiyagaraya nagar Sub Registrar Office handles property registrations for Cartman Road, located at 27/14, Vetnari Hospital Road, Panpet, Nandhanam, Chennai-35.

What is the land classification for Cartman Road?

Cartman Road is classified as Residential Class III Type - I, indicating its designation for residential use within the area.