Guideline Value for CBKM

Cbkm guideline value

The current guideline value for Cbkm, located in Cantonment Pallavaram village under the Pallavaram SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Cbkm has changed

The guideline value for Cbkm has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which was then reduced to Rs 2,010 per sq.ft in the 2017 revision. However, the value increased significantly in the following years, reaching Rs 3,000 per sq.ft again in the 2023 revision, and then rising to Rs 3,300 per sq.ft in the 2024 revision.

Between the 2023 and 2024 revisions, there was a 10% increase. The jump from the 2017 to 2023 revision was notable at 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Cantonment Pallavaram

Cantonment Pallavaram has a range of guideline values across its 81 streets under the Pallavaram SRO, with values ranging from Rs 1,650 to Rs 11,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, placing Cbkm's 2024 value of Rs 3,300 per sq.ft above this median.

• Chidambaranathan Street: Rs 2,700 per sq.ft (2024)
• Churuch Road: Rs 3,850 per sq.ft (2024)
• Bharathy Street: Rs 2,700 per sq.ft (2024)
• Bharath Nagar(Semman Nagar): Rs 2,200 per sq.ft (2024)
• Depot Lane: Rs 3,850 per sq.ft (2024)
• Bazaar Road,Police Station Road, Indra Gandhi Road: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Cbkm

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, the total cost for duties and fees would be Rs 2,97,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Cbkm?

The Sub Registrar Office that covers Cbkm is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Cantonment Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the registration process is transparent and standardized.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which can significantly impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Cbkm?

The current guideline value of Cbkm is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then back to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Cbkm?

Cbkm is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Cbkm?

The Sub Registrar Office for Cbkm is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044. This office handles property registrations in the area.

How is stamp duty calculated for property in Cbkm?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%.